AbCellera Biologics (NASDAQ:ABCL) Sets New 1-Year High – What’s Next?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s share price hit a new 52-week high on Monday . The company traded as high as $11.52 and last traded at $11.5250, with a volume of 4415068 shares changing hands. The stock had previously closed at $11.38.

Analysts Set New Price Targets

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

AbCellera Biologics Stock Performance

The stock has a market cap of $3.53 billion, a P/E ratio of -21.31 and a beta of 1.20. The stock’s fifty day moving average is $6.65 and its 200 day moving average is $4.91.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings data 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). The company had revenue of $4.05 million for the quarter, compared to analysts’ expectations of $7.85 million. AbCellera Biologics had a negative net margin of 248.83% and a negative return on equity of 17.49%. Equities research analysts predict that AbCellera Biologics Inc. will post -0.68 EPS for the current year.

Institutional Trading of AbCellera Biologics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning boosted its stake in AbCellera Biologics by 6.9% during the second quarter. Creative Planning now owns 41,003 shares of the company’s stock worth $141,000 after buying an additional 2,656 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of AbCellera Biologics by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,546 shares of the company’s stock valued at $50,000 after acquiring an additional 2,993 shares during the period. Advisory Services Network LLC raised its stake in shares of AbCellera Biologics by 12.9% in the fourth quarter. Advisory Services Network LLC now owns 29,664 shares of the company’s stock valued at $101,000 after acquiring an additional 3,386 shares during the period. Raymond James Financial Inc. lifted its holdings in shares of AbCellera Biologics by 17.0% in the 2nd quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock worth $96,000 after acquiring an additional 4,070 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in shares of AbCellera Biologics by 1.2% in the 4th quarter. Osaic Holdings Inc. now owns 347,321 shares of the company’s stock worth $1,188,000 after acquiring an additional 4,246 shares during the last quarter. Hedge funds and other institutional investors own 61.42% of the company’s stock.

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.