AbCellera Biologics (NASDAQ:ABCL) Stock Price Up 4.6% – Should You Buy?

AbCellera Biologics Inc. (NASDAQ:ABCL) shares traded up 4.6% during mid-day trading on Tuesday. The stock traded as high as $14.90 and last traded at $14.5560. Approximately 4,404,271 shares were traded during trading, a decline of 28% from the average daily volume of 6,090,082 shares. The stock had previously closed at $13.92.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ABCL shares. Truist Financial raised their price target on shares of AbCellera Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. initiated coverage on shares of AbCellera Biologics in a report on Tuesday. They issued an “overweight” rating and a $17.00 price objective for the company. Wall Street Zen lowered shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday. Benchmark upgraded AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Tuesday, July 7th. Finally, Stifel Nicolaus upped their price target on AbCellera Biologics from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.38.

AbCellera Biologics Trading Up 4.7%

The firm has a fifty day moving average price of $9.97 and a 200 day moving average price of $6.74. The firm has a market cap of $4.47 billion, a PE ratio of -26.99 and a beta of 1.32.

AbCellera Biologics (NASDAQ:ABCL) last announced 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). AbCellera Biologics had a negative net margin of 248.83% and a negative return on equity of 17.49%. The firm had revenue of $4.05 million during the quarter, compared to analysts’ expectations of $7.85 million. As a group, equities analysts predict that AbCellera Biologics Inc. will post -0.68 earnings per share for the current year.

Institutional Trading of AbCellera Biologics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE purchased a new stake in shares of AbCellera Biologics during the 2nd quarter valued at approximately $48,211,000. BlackRock Inc. acquired a new stake in AbCellera Biologics during the second quarter worth $29,872,000. Royal Bank of Canada increased its stake in AbCellera Biologics by 5.6% during the first quarter. Royal Bank of Canada now owns 394,753 shares of the company’s stock worth $1,378,000 after acquiring an additional 20,897 shares during the last quarter. SEB Asset Management AB purchased a new stake in AbCellera Biologics in the first quarter valued at $1,188,000. Finally, Headlands Technologies LLC raised its position in AbCellera Biologics by 34.8% in the second quarter. Headlands Technologies LLC now owns 246,252 shares of the company’s stock valued at $1,933,000 after purchasing an additional 63,596 shares during the period. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Company Profile

AbCellera Biologics Inc is a biotechnology company that develops antibody-based medicines in partnership with pharmaceutical and biotechnology companies. Its technology platform combines artificial intelligence, machine learning, high-throughput screening, single-cell analysis and other laboratory techniques to identify and evaluate antibody candidates.

The company provides integrated antibody discovery and development services, helping partners move from biological targets and immune-cell samples to optimized therapeutic antibody candidates.