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

AbCellera Biologics Inc. (NASDAQ:ABCL) has earned a consensus rating of “Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $16.17.

Separately, KeyCorp dropped their target price on AbCellera Biologics from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th.

Hedge Funds Weigh In On AbCellera Biologics

Institutional investors have recently modified their holdings of the stock. Baker BROS. Advisors LP increased its stake 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 worth $124,691,000 after purchasing an additional 4,615,887 shares in the last quarter. Intellectus Partners LLC lifted its holdings 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 purchasing an additional 10,650 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its position in shares of AbCellera Biologics by 143.1% during the third quarter. Schonfeld Strategic Advisors LLC now owns 358,400 shares of the company’s stock worth $1,649,000 after buying an additional 211,000 shares during the period. Dark Forest Capital Management LP boosted its position in shares of AbCellera Biologics by 199.6% during the third quarter. Dark Forest Capital Management LP now owns 278,618 shares of the company’s stock worth $1,282,000 after buying an additional 185,606 shares during the period. Finally, Trexquant Investment LP grew its holdings in shares of AbCellera Biologics by 458.5% during the third quarter. Trexquant Investment LP now owns 272,158 shares of the company’s stock worth $1,252,000 after buying an additional 223,430 shares in the last quarter. 61.42% of the stock is currently owned by institutional investors and hedge funds.

AbCellera Biologics Price Performance

Shares of ABCL opened at $2.79 on Thursday. The company has a market capitalization of $820.40 million, a P/E ratio of -5.37 and a beta of 0.45. AbCellera Biologics has a one year low of $2.79 and a one year high of $8.05. The business’s 50 day simple moving average is $3.74 and its 200-day simple moving average is $4.61.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. The business 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 firm’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.14) earnings per share. On average, sell-side analysts anticipate that AbCellera Biologics will post -0.6 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.