AbCellera Biologics (NASDAQ:ABCL) Now Covered by UBS Group

UBS Group initiated coverage on shares of AbCellera Biologics (NASDAQ:ABCL) in a report issued on Monday, MarketBeat Ratings reports. The firm issued a buy rating and a $18.00 price objective on the stock.

A number of other equities research analysts also recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Friday, July 17th. Truist Financial raised their price objective on AbCellera Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Stifel Nicolaus lifted their price objective on AbCellera Biologics from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 6th. The Goldman Sachs Group started coverage on AbCellera Biologics in a report on Thursday, September 24th. They issued a “neutral” rating and a $13.00 price objective for the company. Finally, Benchmark upgraded AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, AbCellera Biologics has an average rating of “Moderate Buy” and an average target price of $13.89.

AbCellera Biologics Stock Up 0.7%

NASDAQ ABCL opened at $12.64 on Monday. The firm has a 50-day moving average price of $11.53 and a two-hundred day moving average price of $7.44. AbCellera Biologics has a 12-month low of $2.74 and a 12-month high of $15.02. The company has a market capitalization of $3.88 billion, a P/E ratio of -23.41 and a beta of 1.41.

AbCellera Biologics (NASDAQ:ABCL) last announced its earnings results on Wednesday, August 5th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.02). AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%. The business had revenue of $4.05 million for the quarter, compared to the consensus estimate of $7.85 million. Equities analysts expect that AbCellera Biologics will post -0.69 EPS for the current year.

Hedge Funds Weigh In On AbCellera Biologics

Several hedge funds have recently bought and sold shares of ABCL. Green Alpha Advisors LLC lifted its holdings in shares of AbCellera Biologics by 4.6% during the 3rd quarter. Green Alpha Advisors LLC now owns 22,930 shares of the company’s stock worth $335,000 after acquiring an additional 1,014 shares during the period. AssuredPartners Investment Advisors LLC acquired a new stake in shares of AbCellera Biologics during the 2nd quarter worth approximately $80,000. Allworth Financial LP acquired a new stake in shares of AbCellera Biologics during the 2nd quarter worth approximately $91,000. HighTower Advisors LLC increased its stake in AbCellera Biologics by 12.5% in the second quarter. HighTower Advisors LLC now owns 107,933 shares of the company’s stock valued at $847,000 after acquiring an additional 12,000 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in AbCellera Biologics in the first quarter valued at approximately $46,000. 61.42% of the stock is owned by institutional investors.

AbCellera Biologics Company Profile

AbCellera Biologics Inc is a biotechnology company that develops technologies for the discovery and development of antibody medicines. Its platform combines high-throughput screening, single-cell analysis, microfluidics, data science and machine learning to identify antibodies with potential therapeutic applications.

The company works with pharmaceutical and biotechnology partners worldwide, helping them discover and advance antibody candidates for areas such as cancer, infectious diseases, autoimmune disorders and other medical conditions.