AbCellera Biologics (NASDAQ:ABCL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of AbCellera Biologics (NASDAQ:ABCL) from a sell rating to a hold rating in a research note released on Saturday.

ABCL has been the subject of several other research reports. Stifel Nicolaus cut their target price on AbCellera Biologics from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, August 8th. KeyCorp upped their target price on shares of AbCellera Biologics from $5.00 to $10.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. Leerink Partners started coverage on shares of AbCellera Biologics in a research note on Monday, July 7th. They set an “outperform” rating and a $5.00 price objective on the stock. Leerink Partnrs upgraded AbCellera Biologics to a “strong-buy” rating in a research note on Monday, July 7th. Finally, Truist Financial reduced their price target on shares of AbCellera Biologics from $28.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, May 16th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

AbCellera Biologics Stock Performance

ABCL stock opened at $4.67 on Friday. The firm’s fifty day moving average is $4.06 and its 200 day moving average is $3.01. AbCellera Biologics has a 52 week low of $1.89 and a 52 week high of $5.82. The firm has a market cap of $1.40 billion, a P/E ratio of -8.49 and a beta of 0.65.

AbCellera Biologics (NASDAQ:ABCL) last released its earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.05. AbCellera Biologics had a negative net margin of 511.88% and a negative return on equity of 16.17%. The firm had revenue of $17.08 million during the quarter, compared to analyst estimates of $7.55 million. As a group, analysts forecast that AbCellera Biologics will post -0.59 EPS for the current year.

Institutional Trading of AbCellera Biologics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in AbCellera Biologics in the 4th quarter valued at approximately $57,000. Barclays PLC lifted its position in AbCellera Biologics by 72.0% during the fourth quarter. Barclays PLC now owns 38,351 shares of the company’s stock worth $112,000 after buying an additional 16,058 shares during the period. Mariner LLC purchased a new position in shares of AbCellera Biologics during the 4th quarter worth about $42,000. XTX Topco Ltd purchased a new stake in AbCellera Biologics in the fourth quarter valued at approximately $269,000. Finally, PEAK6 LLC purchased a new stake in shares of AbCellera Biologics during the 4th quarter valued at $586,000. 61.42% of the stock is owned by hedge funds and other 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.