Analysts Set AbCellera Biologics Inc. (NASDAQ:ABCL) PT at $14.20

AbCellera Biologics Inc. (NASDAQ:ABCL) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $14.20.

A number of equities research analysts have weighed in on ABCL shares. KeyCorp reissued an “overweight” rating and issued a $5.00 price target (down from $7.00) on shares of AbCellera Biologics in a report on Thursday, July 11th. Benchmark lowered shares of AbCellera Biologics from a “buy” rating to a “hold” rating in a research note on Tuesday, August 20th.

Institutional Trading of AbCellera Biologics

Several institutional investors and hedge funds have recently bought and sold shares of ABCL. Baker BROS. Advisors LP increased its position in shares of AbCellera Biologics by 20.1% in the first quarter. Baker BROS. Advisors LP now owns 27,525,640 shares of the company’s stock worth $124,691,000 after acquiring an additional 4,615,887 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new position in AbCellera Biologics during the 2nd quarter worth approximately $923,000. Renaissance Technologies LLC raised its stake in AbCellera Biologics by 16.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,728,603 shares of the company’s stock valued at $5,117,000 after purchasing an additional 239,000 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of AbCellera Biologics by 104.9% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 308,567 shares of the company’s stock valued at $913,000 after purchasing an additional 158,000 shares in the last quarter. Finally, Pier 88 Investment Partners LLC boosted its position in shares of AbCellera Biologics by 362.0% in the second quarter. Pier 88 Investment Partners LLC now owns 161,620 shares of the company’s stock worth $478,000 after buying an additional 126,640 shares during the period. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Price Performance

AbCellera Biologics stock opened at $2.50 on Friday. AbCellera Biologics has a 12-month low of $2.34 and a 12-month high of $6.05. The stock has a market capitalization of $735.14 million, a PE ratio of -4.81 and a beta of 0.37. The firm has a 50 day simple moving average of $2.67 and a 200-day simple moving average of $3.34.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02. AbCellera Biologics had a negative return on equity of 13.40% and a negative net margin of 463.77%. The company had revenue of $7.30 million for the quarter, compared to analysts’ expectations of $10.12 million. During the same period last year, the firm earned ($0.11) EPS. The firm’s revenue for the quarter was down 27.7% on a year-over-year basis. On average, analysts forecast that AbCellera Biologics will post -0.55 earnings per share for the current fiscal year.

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.