AbCellera Biologics Inc. (NASDAQ:ABCL) Receives Consensus Recommendation of “Buy” from Brokerages

AbCellera Biologics Inc. (NASDAQ:ABCL) has earned a consensus recommendation of “Buy” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have covered the stock in the last year is $16.17.

Separately, KeyCorp lowered their price target on shares of AbCellera Biologics from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th.

Institutional Investors Weigh In On AbCellera Biologics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Baker BROS. Advisors LP lifted its holdings in AbCellera Biologics by 20.1% during the 1st quarter. Baker BROS. Advisors LP now owns 27,525,640 shares of the company’s stock valued at $124,691,000 after purchasing an additional 4,615,887 shares during the last quarter. Intellectus Partners LLC raised its stake in shares of AbCellera Biologics by 1.2% in the fourth quarter. Intellectus Partners LLC now owns 887,283 shares of the company’s stock valued at $5,066,000 after acquiring an additional 10,650 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in shares of AbCellera Biologics by 143.1% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 358,400 shares of the company’s stock worth $1,649,000 after acquiring an additional 211,000 shares in the last quarter. Dark Forest Capital Management LP grew its position in AbCellera Biologics by 199.6% during the 3rd quarter. Dark Forest Capital Management LP now owns 278,618 shares of the company’s stock worth $1,282,000 after acquiring an additional 185,606 shares during the last quarter. Finally, Trexquant Investment LP increased its holdings in AbCellera Biologics by 458.5% during the 3rd quarter. Trexquant Investment LP now owns 272,158 shares of the company’s stock valued at $1,252,000 after purchasing an additional 223,430 shares in the last quarter. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Stock Performance

Shares of ABCL opened at $2.79 on Thursday. AbCellera Biologics has a 52 week low of $2.71 and a 52 week high of $8.05. The firm has a market capitalization of $820.40 million, a P/E ratio of -5.37 and a beta of 0.45. The company has a 50-day simple moving average of $3.66 and a 200-day simple moving average of $4.57.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.02. The firm had revenue of $9.95 million during the quarter, compared to analysts’ expectations of $10.73 million. AbCellera Biologics had a negative return on equity of 12.61% and a negative net margin of 410.47%. The company’s revenue for the quarter was down 18.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.14) EPS. As a group, equities analysts forecast that AbCellera Biologics will post -0.6 earnings per share for the current 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.