AbCellera Biologics (NASDAQ:ABCL) Price Target Raised to $30.00

AbCellera Biologics (NASDAQ:ABCL) had its price objective lifted by analysts at Truist Financial from $12.00 to $30.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 203.12% from the company’s current price.

ABCL has been the subject of a number of other research reports. Cantor Fitzgerald raised their price objective on AbCellera Biologics from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Wall Street Zen cut AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Friday, July 17th. Benchmark raised shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Tuesday, July 7th. Finally, Stifel Nicolaus boosted their price objective on AbCellera Biologics from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.83.

AbCellera Biologics Price Performance

ABCL stock traded up $0.56 during trading on Tuesday, reaching $9.90. 13,013,921 shares of the stock traded hands, compared to its average volume of 6,039,575. The firm has a market capitalization of $3.03 billion, a PE ratio of -18.27 and a beta of 1.20. AbCellera Biologics has a 52-week low of $2.74 and a 52-week high of $10.29. The business’s 50 day moving average price is $6.28 and its 200-day moving average price is $4.73.

AbCellera Biologics (NASDAQ:ABCL) last posted its earnings results on Wednesday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%.The business had revenue of $4.05 million for the quarter, compared to analyst estimates of $7.85 million. On average, equities research analysts predict that AbCellera Biologics will post -0.67 earnings per share for the current year.

Hedge Funds Weigh In On AbCellera Biologics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABCL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of AbCellera Biologics in the 4th quarter valued at $26,938,000. Goldman Sachs Group Inc. boosted its holdings in AbCellera Biologics by 1,636.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,344,485 shares of the company’s stock valued at $14,858,000 after purchasing an additional 4,094,268 shares during the period. BlackRock Inc. acquired a new stake in AbCellera Biologics during the second quarter worth about $29,872,000. Bank of America Corp DE lifted its position in AbCellera Biologics by 977.8% in the third quarter. Bank of America Corp DE now owns 2,418,304 shares of the company’s stock worth $12,164,000 after purchasing an additional 2,193,939 shares during the period. Finally, Tudor Investment Corp ET AL boosted its position in shares of AbCellera Biologics by 146.0% during the 4th quarter. Tudor Investment Corp ET AL now owns 1,796,010 shares of the company’s stock valued at $6,142,000 after acquiring an additional 1,065,888 shares in the last quarter. Institutional investors own 61.42% of the company’s stock.

Key Stories Impacting AbCellera Biologics

Here are the key news stories impacting AbCellera Biologics this week:

• Positive Sentiment: Positive Phase 2 results: ABCL635 significantly reduced both the frequency and severity of moderate-to-severe hot flashes in a Phase 1/2 trial, meeting its primary efficacy endpoints. The results support further development of a non-hormonal treatment for menopause symptoms. Reuters article
• Positive Sentiment: Commercial opportunity strengthened: Coverage characterized the data as a strong efficacy benchmark, increasing optimism that ABCL635 could become an important growth driver if later-stage trials and regulatory reviews are successful. Benzinga article
• Positive Sentiment: Bullish options activity: Investors purchased 16,666 ABCL call options, approximately 151% above the typical daily volume of 6,636 contracts. The activity signals increased speculative interest in additional share gains, although it does not guarantee future performance. DefenseWorld article
• Neutral Sentiment: Key risk remains execution: The reported data are top-line Phase 2 results. AbCellera must still complete subsequent development, establish the treatment’s durability and safety profile, and obtain regulatory approval before ABCL635 can generate product revenue. AOL article

AbCellera Biologics Company Profile

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.