AbCellera Biologics (NASDAQ:ABCL) Upgraded to “Hold” at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of AbCellera Biologics (NASDAQ:ABCL – Free Report) from a sell rating to a hold rating in a research report released on Saturday.

ABCL has been the subject of several other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Wednesday, January 21st. Leerink Partners lowered shares of AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.75.

View Our Latest Research Report on AbCellera Biologics

AbCellera Biologics Price Performance

Shares of NASDAQ ABCL opened at $3.10 on Friday. AbCellera Biologics has a 1-year low of $1.89 and a 1-year high of $6.51. The company has a market capitalization of $927.94 million, a price-to-earnings ratio of -5.44 and a beta of 0.81. The business has a 50-day moving average of $3.71 and a 200-day moving average of $4.29.

Institutional Trading of AbCellera Biologics

A number of hedge funds have recently made changes to their positions in the stock. Invesco Ltd. raised its holdings in AbCellera Biologics by 114.6% in the first quarter. Invesco Ltd. now owns 24,146 shares of the company’s stock valued at $54,000 after acquiring an additional 12,893 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of AbCellera Biologics in the 2nd quarter valued at about $35,000. State of Michigan Retirement System bought a new position in shares of AbCellera Biologics during the second quarter worth about $169,000. Bank of Montreal Can grew its stake in AbCellera Biologics by 46.2% in the second quarter. Bank of Montreal Can now owns 70,089 shares of the company’s stock worth $240,000 after purchasing an additional 22,155 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in AbCellera Biologics by 3.5% in the second quarter. Geode Capital Management LLC now owns 363,188 shares of the company’s stock worth $1,246,000 after purchasing an additional 12,301 shares in the last quarter. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Company Profile

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AbCellera Biologics Inc (NASDAQ: ABCL) is a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s technology platform integrates single-cell screening, microfluidics, high-throughput sequencing and artificial intelligence to rapidly identify and optimize antibody candidates against a wide range of disease targets. By combining experimental data with machine learning, AbCellera accelerates early-stage drug discovery and improves the efficiency of lead candidate selection.

AbCellera primarily operates through partnerships with pharmaceutical and biotechnology firms, offering its antibody discovery services on a fee-for-service and milestone-driven basis.

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