AbCellera Biologics Inc. (NASDAQ:ABCL) Short Interest Update

AbCellera Biologics Inc. (NASDAQ:ABCL) saw a large growth in short interest in June. As of June 15th, there was short interest totalling 19,720,000 shares, a growth of 7.1% from the May 31st total of 18,420,000 shares. Approximately 9.6% of the company’s stock are short sold. Based on an average daily volume of 1,500,000 shares, the days-to-cover ratio is currently 13.1 days.

AbCellera Biologics Price Performance

NASDAQ ABCL opened at $2.71 on Thursday. The business’s fifty day moving average is $3.55 and its 200-day moving average is $4.49. The stock has a market capitalization of $796.88 million, a price-to-earnings ratio of -5.21 and a beta of 0.39. AbCellera Biologics has a one year low of $2.69 and a one year high of $8.05.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.02. AbCellera Biologics had a negative net margin of 410.47% and a negative return on equity of 12.61%. The business had revenue of $9.95 million for the quarter, compared to analyst estimates of $10.73 million. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. The company’s revenue for the quarter was down 18.4% on a year-over-year basis. Research analysts expect that AbCellera Biologics will post -0.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, KeyCorp dropped their price objective on shares of AbCellera Biologics from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $16.17.

Hedge Funds Weigh In On AbCellera Biologics

Several institutional investors have recently bought and sold shares of ABCL. Baker BROS. Advisors LP lifted its stake in shares of 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 buying an additional 4,615,887 shares in the last quarter. Nan Fung Group Holdings Ltd grew its position in shares of AbCellera Biologics by 307.1% in the first quarter. Nan Fung Group Holdings Ltd now owns 50,971 shares of the company’s stock valued at $231,000 after purchasing an additional 38,450 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in AbCellera Biologics during the 1st quarter worth about $239,000. Seelaus Asset Management LLC bought a new position in AbCellera Biologics in the 1st quarter worth about $68,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of AbCellera Biologics during the first quarter valued at about $454,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

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.