AbCellera Biologics (NASDAQ:ABCL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of AbCellera Biologics (NASDAQ:ABCL) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

ABCL has been the topic of several other research reports. Leerink Partners reaffirmed a “market perform” rating and issued a $4.00 price objective on shares of AbCellera Biologics in a research note on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a report on Wednesday, October 8th. Finally, Leerink Partnrs downgraded shares of AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.75.

AbCellera Biologics Trading Down 3.4%

Shares of NASDAQ:ABCL opened at $3.46 on Friday. The stock has a fifty day simple moving average of $4.09 and a two-hundred day simple moving average of $4.35. AbCellera Biologics has a 12-month low of $1.89 and a 12-month high of $6.51. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -6.07 and a beta of 0.73.

AbCellera Biologics (NASDAQ:ABCL) last issued its earnings results on Thursday, November 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.02). AbCellera Biologics had a negative return on equity of 17.21% and a negative net margin of 493.42%.The firm had revenue of $6.51 million during the quarter, compared to analysts’ expectations of $6.33 million. As a group, equities research analysts predict that AbCellera Biologics will post -0.59 EPS for the current year.

Institutional Investors Weigh In On AbCellera Biologics

Large investors have recently bought and sold shares of the business. Invesco Ltd. boosted its position in shares of AbCellera Biologics by 114.6% during the first quarter. Invesco Ltd. now owns 24,146 shares of the company’s stock valued at $54,000 after buying an additional 12,893 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in AbCellera Biologics by 248.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 15,671,063 shares of the company’s stock valued at $34,946,000 after acquiring an additional 11,171,063 shares during the period. Ballentine Partners LLC bought a new position in AbCellera Biologics in the 2nd quarter valued at $81,000. XML Financial LLC bought a new position in AbCellera Biologics in the 2nd quarter valued at $118,000. Finally, J2 Capital Management Inc purchased a new stake in AbCellera Biologics in the second quarter worth $45,000. 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.