AbCellera Biologics (NASDAQ:ABCL – Get Free Report) had its target price decreased by equities researchers at KeyCorp from $8.00 to $7.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price would suggest a potential upside of 84.21% from the stock’s previous close.
Several other brokerages have also recently issued reports on ABCL. 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. Stifel Nicolaus cut their price objective on shares of AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $16.17.
Read Our Latest Stock Report on ABCL
AbCellera Biologics Trading Down 5.9 %
AbCellera Biologics (NASDAQ:ABCL – Get Free Report) last released its earnings results 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. The company had revenue of $9.95 million for the quarter, compared to analysts’ expectations of $10.73 million. AbCellera Biologics had a negative net margin of 384.99% and a negative return on equity of 12.36%. AbCellera Biologics’s revenue for the quarter was down 18.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.14) EPS. On average, sell-side analysts expect that AbCellera Biologics will post -0.66 earnings per share for the current fiscal year.
Hedge Funds Weigh In On AbCellera Biologics
A number of hedge funds have recently made changes to their positions in the company. Pacifica Partners Inc. raised its holdings in AbCellera Biologics by 82.9% in the 4th quarter. Pacifica Partners Inc. now owns 4,820 shares of the company’s stock valued at $28,000 after acquiring an additional 2,185 shares during the last quarter. NBC Securities Inc. purchased a new stake in AbCellera Biologics in the third quarter valued at approximately $30,000. China Universal Asset Management Co. Ltd. boosted its position in shares of AbCellera Biologics by 96.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,423 shares of the company’s stock worth $34,000 after buying an additional 3,638 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in shares of AbCellera Biologics in the third quarter valued at $48,000. Finally, Signaturefd LLC raised its holdings in shares of AbCellera Biologics by 306.3% in the 4th quarter. Signaturefd LLC now owns 10,596 shares of the company’s stock valued at $61,000 after buying an additional 7,988 shares during the period. Institutional investors and hedge funds own 61.42% of the company’s stock.
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.
Featured Stories
- Five stocks we like better than AbCellera Biologics
- What is Short Interest? How to Use It
- Lucid’s Stock Price is Still in Reverse: New Lows Are Coming
- Investing in Travel Stocks Benefits
- Generac Powers Ahead on the Electrification Mega-Trend
- Consumer Discretionary Stocks Explained
- PulteGroup Wins and Wins More on Interest Rate Cuts
Receive News & Ratings for AbCellera Biologics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbCellera Biologics and related companies with MarketBeat.com's FREE daily email newsletter.