AbCellera Biologics (NASDAQ:ABCL) Stock Price Up 7.2% – Should You Buy?

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) shot up 7.2% during trading on Thursday . The stock traded as high as $3.14 and last traded at $3.14. 570,329 shares were traded during trading, a decline of 68% from the average session volume of 1,788,647 shares. The stock had previously closed at $2.93.

Wall Street Analysts Forecast Growth

ABCL has been the subject of several recent research reports. Stifel Nicolaus reissued a “buy” rating and issued a $12.00 price target (down from $14.00) on shares of AbCellera Biologics in a research note on Tuesday, November 5th. Benchmark reiterated a “hold” rating on shares of AbCellera Biologics in a report on Tuesday, November 5th.

AbCellera Biologics Price Performance

The stock has a market cap of $924.50 million, a PE ratio of -5.13 and a beta of 0.41. The business has a 50 day moving average price of $2.87 and a two-hundred day moving average price of $2.79.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The firm 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 company earned ($0.10) EPS. On average, sell-side analysts forecast that AbCellera Biologics Inc. will post -0.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ABCL. Arcadia Investment Management Corp MI purchased a new position in shares of AbCellera Biologics during the 3rd quarter worth $26,000. NBC Securities Inc. lifted its stake in AbCellera Biologics by 56.0% in the 3rd quarter. NBC Securities Inc. now owns 11,420 shares of the company’s stock worth $29,000 after purchasing an additional 4,100 shares in the last quarter. Evergreen Capital Management LLC bought a new position in AbCellera Biologics during the second quarter valued at approximately $32,000. Ballentine Partners LLC purchased a new position in shares of AbCellera Biologics in the third quarter valued at $54,000. Finally, Clarkston Capital Partners LLC bought a new stake in shares of AbCellera Biologics in the 3rd quarter worth about $57,000. 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.