Brokerages Set AbCellera Biologics Inc. (NASDAQ:ABCL) PT at $7.75

AbCellera Biologics Inc. (NASDAQ:ABCL) has been given a consensus rating of “Hold” by the seven research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $7.75.

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Wednesday, October 8th. Leerink Partnrs lowered shares of AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Leerink Partners restated a “market perform” rating and set a $4.00 target price on shares of AbCellera Biologics in a report on Friday, November 7th. Finally, Wall Street Zen cut AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th.

AbCellera Biologics Stock Performance

NASDAQ ABCL opened at $3.56 on Friday. The business has a fifty day moving average price of $4.77 and a 200 day moving average price of $4.21. The company has a market cap of $1.07 billion, a P/E ratio of -6.25 and a beta of 0.73. AbCellera Biologics has a one year low of $1.89 and a one year high of $6.51.

AbCellera Biologics (NASDAQ:ABCL) last announced its earnings results on Thursday, November 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.02). The business had revenue of $6.51 million for the quarter, compared to analyst estimates of $6.33 million. AbCellera Biologics had a negative return on equity of 17.21% and a negative net margin of 493.42%. As a group, sell-side analysts predict that AbCellera Biologics will post -0.59 EPS for the current fiscal year.

Institutional Trading of AbCellera Biologics

A number of hedge funds and other institutional investors have recently modified their holdings of ABCL. Hollencrest Capital Management acquired a new position in shares of AbCellera Biologics during the 3rd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd purchased a new position in AbCellera Biologics during the second quarter worth about $35,000. J2 Capital Management Inc acquired a new position in AbCellera Biologics in the 2nd quarter valued at about $45,000. Lantern Wealth Advisors LLC acquired a new position in AbCellera Biologics in the 2nd quarter valued at about $51,000. Finally, Virtu Financial LLC purchased a new stake in shares of AbCellera Biologics in the 1st quarter valued at approximately $52,000. 61.42% of the stock is owned by institutional investors and hedge funds.

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.