AbCellera Biologics (NASDAQ:ABCL) Trading 11.6% Higher – Should You Buy?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s share price was up 11.6% on Thursday . The stock traded as high as $4.85 and last traded at $4.7750. Approximately 2,766,228 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 4,901,405 shares. The stock had previously closed at $4.28.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wall Street Zen downgraded AbCellera Biologics from a “hold” rating to a “sell” rating in a research report on Tuesday. Leerink Partners downgraded AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Wednesday. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.75.

AbCellera Biologics Price Performance

The company has a market cap of $1.27 billion, a P/E ratio of -7.44 and a beta of 0.73. The firm’s 50-day moving average is $3.76 and its two-hundred day moving average is $4.40.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). AbCellera Biologics had a negative return on equity of 17.21% and a negative net margin of 493.42%.The business had revenue of $6.51 million during the quarter, compared to analysts’ expectations of $6.33 million. As a group, sell-side analysts expect that AbCellera Biologics Inc. will post -0.59 EPS for the current year.

Institutional Investors Weigh In On AbCellera Biologics

Institutional investors have recently modified their holdings of the stock. Invesco Ltd. increased its position in shares of AbCellera Biologics by 114.6% during the 1st quarter. Invesco Ltd. now owns 24,146 shares of the company’s stock valued at $54,000 after purchasing an additional 12,893 shares during the last quarter. Ballentine Partners LLC bought a new position in AbCellera Biologics during the second quarter valued at $81,000. XML Financial LLC purchased a new stake in shares of AbCellera Biologics in the second quarter valued at $118,000. J2 Capital Management Inc bought a new stake in shares of AbCellera Biologics in the 2nd quarter worth about $45,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of AbCellera Biologics in the 2nd quarter worth about $35,000. 61.42% of the stock is owned by institutional investors.

About AbCellera Biologics

AbCellera Biologics Inc (NASDAQ: ABCL) is a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s technology platform integrates single-cell screening, microfluidics, high-throughput sequencing and artificial intelligence to rapidly identify and optimize antibody candidates against a wide range of disease targets. By combining experimental data with machine learning, AbCellera accelerates early-stage drug discovery and improves the efficiency of lead candidate selection.

AbCellera primarily operates through partnerships with pharmaceutical and biotechnology firms, offering its antibody discovery services on a fee-for-service and milestone-driven basis.