AbCellera Biologics Inc. (NASDAQ:ABCL) Receives Consensus Rating of “Buy” from Brokerages

AbCellera Biologics Inc. (NASDAQ:ABCL) has received a consensus recommendation of “Buy” from the seven research firms that are currently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have covered the stock in the last year is $16.17.

A number of analysts have issued reports on the company. KeyCorp cut their target price on AbCellera Biologics from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Benchmark upgraded AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research note on Thursday, February 22nd. Finally, Stifel Nicolaus decreased their target price on AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Pacifica Partners Inc. boosted its position in AbCellera Biologics by 82.9% during the fourth quarter. Pacifica Partners Inc. now owns 4,820 shares of the company’s stock worth $28,000 after purchasing an additional 2,185 shares in the last quarter. Pathstone Family Office LLC lifted its position in shares of AbCellera Biologics by 16.5% in the third quarter. Pathstone Family Office LLC now owns 17,390 shares of the company’s stock valued at $80,000 after acquiring an additional 2,466 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of AbCellera Biologics by 3.7% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 83,867 shares of the company’s stock valued at $386,000 after acquiring an additional 3,000 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of AbCellera Biologics by 13.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 38,855 shares of the company’s stock valued at $221,000 after acquiring an additional 4,641 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of AbCellera Biologics by 13.5% in the fourth quarter. Handelsbanken Fonder AB now owns 45,400 shares of the company’s stock valued at $259,000 after acquiring an additional 5,400 shares in the last quarter. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Price Performance

Shares of NASDAQ:ABCL opened at $3.85 on Friday. AbCellera Biologics has a 1 year low of $3.58 and a 1 year high of $8.05. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -7.40 and a beta of 0.42. The business’s 50 day moving average price is $4.12 and its 200-day moving average price is $4.74.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. AbCellera Biologics had a negative return on equity of 12.61% and a negative net margin of 410.47%. The company had revenue of $9.95 million for the quarter, compared to analyst estimates of $10.73 million. During the same quarter last year, the firm posted ($0.14) EPS. The firm’s revenue for the quarter was down 18.4% on a year-over-year basis. On average, sell-side analysts expect that AbCellera Biologics will post -0.6 earnings per share for the current year.

About AbCellera Biologics

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.