Brokerages Set AbCellera Biologics Inc. (NASDAQ:ABCL) Target Price at $14.20

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $14.20.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of AbCellera Biologics in the 1st quarter worth $454,000. B. Riley Wealth Advisors Inc. raised its holdings in AbCellera Biologics by 85.7% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 19,500 shares of the company’s stock worth $111,000 after buying an additional 9,000 shares during the period. Principal Financial Group Inc. lifted its stake in AbCellera Biologics by 19.6% during the fourth quarter. Principal Financial Group Inc. now owns 111,188 shares of the company’s stock valued at $635,000 after buying an additional 18,217 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of AbCellera Biologics in the first quarter worth about $239,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of AbCellera Biologics in the fourth quarter worth approximately $81,000. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Stock Down 1.6 %

ABCL stock opened at $2.39 on Tuesday. The firm’s 50-day simple moving average is $2.82 and its 200 day simple moving average is $3.64. The stock has a market cap of $702.79 million, a PE ratio of -4.60 and a beta of 0.37. AbCellera Biologics has a fifty-two week low of $2.36 and a fifty-two week high of $6.05.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $10.12 million. During the same quarter in the previous year, the firm posted ($0.11) EPS. The firm’s quarterly revenue was down 27.7% on a year-over-year basis. Equities analysts forecast that AbCellera Biologics will post -0.55 EPS 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.