AbCellera Biologics (NASDAQ:ABCL) Shares Gap Up – Should You Buy?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s share price gapped up prior to trading on Friday . The stock had previously closed at $2.95, but opened at $3.03. AbCellera Biologics shares last traded at $2.82, with a volume of 484,581 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ABCL. Benchmark reissued a “hold” rating on shares of AbCellera Biologics in a research note on Tuesday, November 5th. Stifel Nicolaus reaffirmed a “buy” rating and set a $12.00 price target (down from $14.00) on shares of AbCellera Biologics in a research report on Tuesday, November 5th.

AbCellera Biologics Stock Down 5.4 %

The company has a market capitalization of $824.07 million, a PE ratio of -4.59 and a beta of 0.41. The stock has a 50-day moving average of $2.79 and a 200 day moving average of $2.88.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The business had revenue of $6.51 million for the quarter, compared to analysts’ expectations of $8.95 million. AbCellera Biologics had a negative net margin of 533.32% and a negative return on equity of 15.73%. During the same period in the previous year, the business posted ($0.10) earnings per share. Equities analysts forecast that AbCellera Biologics Inc. will post -0.59 EPS for the current fiscal year.

Institutional Trading of AbCellera Biologics

Large investors have recently bought and sold shares of the company. Arcadia Investment Management Corp MI purchased a new stake in AbCellera Biologics in the third quarter worth $26,000. Evergreen Capital Management LLC purchased a new stake in AbCellera Biologics in the second quarter worth $32,000. NBC Securities Inc. increased its position in AbCellera Biologics by 56.0% in the third quarter. NBC Securities Inc. now owns 11,420 shares of the company’s stock worth $29,000 after buying an additional 4,100 shares during the last quarter. Ballentine Partners LLC purchased a new stake in AbCellera Biologics in the third quarter worth $54,000. Finally, B. Riley Wealth Advisors Inc. increased its position in AbCellera Biologics by 104.8% in the second quarter. B. Riley Wealth Advisors Inc. now owns 21,500 shares of the company’s stock worth $64,000 after buying an additional 11,000 shares during the last quarter. 61.42% of the stock is owned by hedge funds and other institutional investors.

AbCellera Biologics Company Profile

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.