AbCellera Biologics (NASDAQ:ABCL) Shares Gap Up – Here’s What Happened

AbCellera Biologics Inc. (NASDAQ:ABCL) shares gapped up before the market opened on Tuesday . The stock had previously closed at $4.59, but opened at $5.05. AbCellera Biologics shares last traded at $4.8050, with a volume of 5,130,878 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ABCL shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Monday, April 20th. Cantor Fitzgerald began coverage on shares of AbCellera Biologics in a research note on Tuesday. They set an “overweight” rating and a $7.00 target price on the stock. JonesTrading assumed coverage on shares of AbCellera Biologics in a report on Friday, April 10th. They issued a “buy” rating and a $11.00 target price on the stock. Finally, Wall Street Zen upgraded shares of AbCellera Biologics from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $8.17.

AbCellera Biologics Trading Down 4.4%

The stock has a fifty day simple moving average of $3.67 and a 200-day simple moving average of $3.84. The company has a market capitalization of $1.47 billion, a PE ratio of -9.84 and a beta of 1.02.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings data on Tuesday, February 24th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.15. The business had revenue of $44.85 million for the quarter, compared to the consensus estimate of $6.31 million. AbCellera Biologics had a negative return on equity of 15.05% and a negative net margin of 198.37%. As a group, equities research analysts predict that AbCellera Biologics Inc. will post -0.89 EPS for the current year.

Institutional Trading of AbCellera Biologics

Institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management purchased a new position in shares of AbCellera Biologics in the 3rd quarter valued at $25,000. AssuredPartners Investment Advisors LLC purchased a new stake in AbCellera Biologics in the fourth quarter valued at $34,000. Engineers Gate Manager LP purchased a new stake in AbCellera Biologics in the fourth quarter valued at $38,000. Allworth Financial LP boosted its stake in AbCellera Biologics by 857.0% in the fourth quarter. Allworth Financial LP now owns 11,274 shares of the company’s stock valued at $39,000 after acquiring an additional 10,096 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in AbCellera Biologics in the first quarter valued at $46,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

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.