Brokerages Set AbCellera Biologics Inc. (NASDAQ:ABCL) Price Target at $15.86

AbCellera Biologics Inc. (NASDAQ:ABCL) has received a consensus rating of “Buy” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $16.00.

Several research analysts have recently commented on the company. Stifel Nicolaus lowered their price target on AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research report on Thursday, February 22nd.

AbCellera Biologics Price Performance

ABCL opened at $4.04 on Wednesday. AbCellera Biologics has a 12-month low of $3.62 and a 12-month high of $8.05. The stock has a market capitalization of $1.19 billion, a PE ratio of -7.77 and a beta of 0.42. The firm’s fifty day moving average price is $4.43 and its 200 day moving average price is $4.79.

AbCellera Biologics (NASDAQ:ABCL) last issued its earnings results on Tuesday, February 20th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The company had revenue of $9.18 million during the quarter, compared to analyst estimates of $9.58 million. AbCellera Biologics had a negative net margin of 384.99% and a negative return on equity of 12.36%. On average, equities research analysts forecast that AbCellera Biologics will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

Several institutional investors have recently modified their holdings of ABCL. Seelaus Asset Management LLC acquired a new position in AbCellera Biologics during the 1st quarter valued at about $68,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of AbCellera Biologics during the first quarter valued at approximately $454,000. China Universal Asset Management Co. Ltd. boosted its position in shares of AbCellera Biologics by 67.7% during the first quarter. China Universal Asset Management Co. Ltd. now owns 56,306 shares of the company’s stock worth $255,000 after buying an additional 22,740 shares during the period. PFG Investments LLC bought a new position in AbCellera Biologics in the 1st quarter worth approximately $75,000. Finally, TrueMark Investments LLC increased its position in AbCellera Biologics by 13.5% in the 1st quarter. TrueMark Investments LLC now owns 109,957 shares of the company’s stock valued at $498,000 after acquiring an additional 13,104 shares during the period. Institutional investors own 61.42% of the company’s stock.

About AbCellera Biologics

AbCellera Biologics Inc builds an engine for antibody drug discovery and development. Its engine discovers antibodies from natural immune responses, which are pre-enriched for antibodies. The company's preclinical products are ABCL635 for metabolic and endocrine conditions; and ABCL575 for atopic dermatitis.