AbCellera Biologics Inc. (NASDAQ:ABCL) Receives $15.86 Average PT from Analysts

AbCellera Biologics Inc. (NASDAQ:ABCL) has earned an average recommendation of “Buy” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have covered the stock in the last year is $15.86.

Several equities research analysts have recently commented on the company. Benchmark upgraded AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a report on Thursday, February 22nd. Stifel Nicolaus cut their target price on AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st.

AbCellera Biologics Trading Up 4.7 %

NASDAQ ABCL opened at $4.03 on Wednesday. The business’s 50-day moving average price is $4.46 and its two-hundred day moving average price is $4.79. AbCellera Biologics has a 12 month low of $3.62 and a 12 month high of $8.05. The firm has a market capitalization of $1.18 billion, a PE ratio of -7.75 and a beta of 0.42.

AbCellera Biologics (NASDAQ:ABCL) last announced its earnings results on Tuesday, February 20th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The firm had revenue of $9.18 million for the quarter, compared to the consensus estimate of $9.58 million. AbCellera Biologics had a negative return on equity of 12.36% and a negative net margin of 384.99%. As a group, analysts forecast that AbCellera Biologics will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

Large investors have recently made changes to their positions in the stock. Pacifica Partners Inc. increased its position in shares of AbCellera Biologics by 82.9% during the 4th quarter. Pacifica Partners Inc. now owns 4,820 shares of the company’s stock valued at $28,000 after purchasing an additional 2,185 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of AbCellera Biologics during the 3rd quarter worth approximately $30,000. China Universal Asset Management Co. Ltd. raised its holdings in AbCellera Biologics by 96.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,423 shares of the company’s stock worth $34,000 after purchasing an additional 3,638 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in AbCellera Biologics during the third quarter valued at $48,000. Finally, Signaturefd LLC grew its position in shares of AbCellera Biologics by 306.3% in the 4th quarter. Signaturefd LLC now owns 10,596 shares of the company’s stock worth $61,000 after buying an additional 7,988 shares during the period. 61.42% of the stock is owned by institutional investors.

AbCellera Biologics Company Profile

AbCellera Biologics Inc builds an engine for antibody drug discovery and development. Its engine discovers antibodies from natural immune responses, which are pre-enriched for antibodies. The company's preclinical products are ABCL635 for metabolic and endocrine conditions; and ABCL575 for atopic dermatitis.