AbCellera Biologics Inc. (NASDAQ:ABCL) Stock Has Average Target Price of $13.89

AbCellera Biologics Inc. (NASDAQ:ABCL) has received a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, five have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $13.89.

Several research firms have recently issued reports on ABCL. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Tuesday, July 7th. Wall Street Zen downgraded shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Saturday, September 26th. UBS Group assumed coverage on shares of AbCellera Biologics in a report on Monday, October 12th. They set a “buy” rating and a $18.00 price target on the stock. Stifel Nicolaus increased their price objective on shares of AbCellera Biologics from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Cantor Fitzgerald raised their price objective on shares of AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC bought a new stake in shares of AbCellera Biologics during the 1st quarter worth approximately $46,000. SG Americas Securities LLC purchased a new position in AbCellera Biologics during the 1st quarter valued at $70,000. AssuredPartners Investment Advisors LLC purchased a new position in AbCellera Biologics during the 2nd quarter valued at $80,000. Blume Capital Management Inc. grew its position in AbCellera Biologics by 22.7% in the 3rd quarter. Blume Capital Management Inc. now owns 5,501 shares of the company’s stock valued at $80,000 after acquiring an additional 1,017 shares during the last quarter. Finally, Allworth Financial LP bought a new position in AbCellera Biologics in the 2nd quarter valued at $91,000. Institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Trading Up 6.3%

Shares of NASDAQ ABCL opened at $13.64 on Monday. The firm’s 50-day moving average price is $12.25 and its 200-day moving average price is $6.77. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of -25.26 and a beta of 1.41. AbCellera Biologics has a 12-month low of $2.74 and a 12-month high of $15.02.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.02). AbCellera Biologics had a negative net margin of 248.83% and a negative return on equity of 17.49%. The company had revenue of $4.05 million for the quarter, compared to analysts’ expectations of $7.85 million. On average, equities analysts predict that AbCellera Biologics will post -0.69 EPS for the current fiscal year.

AbCellera Biologics Company Profile

AbCellera Biologics Inc is a biotechnology company headquartered in Vancouver, British Columbia, that develops antibody-based medicines and provides antibody discovery services to pharmaceutical and biotechnology companies. Its platform is designed to identify therapeutic antibodies from immune cells and accelerate their progression from discovery through development.

The company combines high-throughput screening, microfluidics, single-cell analysis, automation, and artificial intelligence to evaluate large numbers of antibody candidates.