AbCellera Biologics Inc. (NASDAQ:ABCL) Given Consensus Recommendation of “Buy” by Analysts

AbCellera Biologics Inc. (NASDAQ:ABCLGet Rating) has been given an average recommendation of “Buy” by the seven ratings firms that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have covered the stock in the last year is $28.50.

A number of analysts recently issued reports on the stock. Piper Sandler dropped their target price on shares of AbCellera Biologics from $22.00 to $21.00 in a research report on Tuesday, November 1st. Truist Financial assumed coverage on shares of AbCellera Biologics in a research report on Wednesday, November 16th. They issued a “buy” rating and a $29.00 price objective for the company. SVB Leerink increased their price objective on shares of AbCellera Biologics from $13.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, November 9th. Finally, Credit Suisse Group lowered their price objective on shares of AbCellera Biologics from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Wednesday, August 10th.

AbCellera Biologics Stock Performance

ABCL opened at $13.98 on Wednesday. The firm has a 50 day moving average price of $11.26 and a 200 day moving average price of $10.43. The company has a market cap of $4.00 billion, a PE ratio of 17.70 and a beta of -0.54. AbCellera Biologics has a 1 year low of $5.42 and a 1 year high of $15.90.

Hedge Funds Weigh In On AbCellera Biologics

Several large investors have recently added to or reduced their stakes in ABCL. IFP Advisors Inc bought a new stake in AbCellera Biologics in the third quarter valued at $64,000. China Universal Asset Management Co. Ltd. bought a new stake in AbCellera Biologics in the third quarter valued at $26,000. National Bank of Canada FI lifted its stake in AbCellera Biologics by 69.3% in the third quarter. National Bank of Canada FI now owns 2,700 shares of the company’s stock valued at $27,000 after buying an additional 1,105 shares during the last quarter. Toronto Dominion Bank bought a new stake in AbCellera Biologics in the third quarter valued at $35,000. Finally, Worth Asset Management LLC bought a new stake in AbCellera Biologics in the first quarter valued at $25,000. 44.42% of the stock is currently owned by institutional investors.

AbCellera Biologics Company Profile

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AbCellera Biologics Inc develops antibody discovery platform. Its full-stack, artificial intelligence-powered antibody discovery platform searches and analyzes the database of natural immune systems to find antibodies that could be developed as drugs. As of December 31, 2021, the company had 156 discovery programs that are either completed, in progress, or under contract with 36 partners.

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Analyst Recommendations for AbCellera Biologics (NASDAQ:ABCL)

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