AbCellera Biologics (NASDAQ:ABCL) Stock Rating Reaffirmed by KeyCorp

AbCellera Biologics (NASDAQ:ABCL)‘s stock had its “overweight” rating reiterated by stock analysts at KeyCorp in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. They presently have a $5.00 price objective on the stock, down from their previous price objective of $7.00. KeyCorp’s price objective would suggest a potential upside of 60.26% from the company’s previous close.

AbCellera Biologics Stock Down 0.3 %

Shares of NASDAQ ABCL opened at $3.12 on Thursday. The firm’s 50-day moving average price is $3.42 and its 200-day moving average price is $4.37. AbCellera Biologics has a 52-week low of $2.65 and a 52-week high of $8.05. The company has a market cap of $917.44 million, a PE ratio of -6.00 and a beta of 0.39.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ABCL. Baker BROS. Advisors LP boosted its holdings in shares of AbCellera Biologics by 20.1% in the first quarter. Baker BROS. Advisors LP now owns 27,525,640 shares of the company’s stock worth $124,691,000 after buying an additional 4,615,887 shares during the last quarter. Intellectus Partners LLC raised its holdings in AbCellera Biologics by 1.2% in the 4th quarter. Intellectus Partners LLC now owns 887,283 shares of the company’s stock worth $5,066,000 after purchasing an additional 10,650 shares during the period. Graham Capital Management L.P. lifted its position in AbCellera Biologics by 149.4% during the third quarter. Graham Capital Management L.P. now owns 180,389 shares of the company’s stock valued at $830,000 after purchasing an additional 108,060 shares in the last quarter. Principal Financial Group Inc. grew its holdings 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 purchasing an additional 18,217 shares during the period. Finally, TrueMark Investments LLC increased its holdings in AbCellera Biologics by 13.5% in the 1st quarter. TrueMark Investments LLC now owns 109,957 shares of the company’s stock worth $498,000 after acquiring an additional 13,104 shares in the last quarter. 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.