AbCellera Biologics (NASDAQ:ABCL) Trading Up 6.7% – Should You Buy?

by · The Markets Daily

AbCellera Biologics Inc. (NASDAQ:ABCL – Get Free Report) shot up 6.7% on Thursday . The company traded as high as $3.62 and last traded at $3.5750. 550,779 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 4,950,974 shares. The stock had previously closed at $3.35.

Wall Street Analyst Weigh In

ABCL has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a report on Wednesday, October 8th. Wall Street Zen cut shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Leerink Partners reissued a “market perform” rating and set a $4.00 price target on shares of AbCellera Biologics in a report on Friday, November 7th. Finally, Leerink Partnrs downgraded AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, AbCellera Biologics has an average rating of “Hold” and an average price target of $7.75.

Check Out Our Latest Analysis on AbCellera Biologics

AbCellera Biologics Stock Performance

The company has a market cap of $1.07 billion, a PE ratio of -6.25 and a beta of 0.73. The stock’s 50-day simple moving average is $4.43 and its 200 day simple moving average is $4.28.

AbCellera Biologics (NASDAQ:ABCL – Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). AbCellera Biologics had a negative net margin of 493.42% and a negative return on equity of 17.21%. The firm had revenue of $6.51 million during the quarter, compared to analyst estimates of $6.33 million. On average, sell-side analysts predict that AbCellera Biologics Inc. will post -0.59 EPS for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hollencrest Capital Management purchased a new stake in AbCellera Biologics during the third quarter worth about $25,000. Caitong International Asset Management Co. Ltd purchased a new position in AbCellera Biologics during the second quarter worth $35,000. J2 Capital Management Inc acquired a new position in shares of AbCellera Biologics in the second quarter worth $45,000. Lantern Wealth Advisors LLC acquired a new stake in shares of AbCellera Biologics during the second quarter valued at $51,000. Finally, OneDigital Investment Advisors LLC purchased a new stake in AbCellera Biologics during the 3rd quarter worth about $52,000. 61.42% of the stock is owned by institutional investors and hedge funds.

About AbCellera Biologics

(Get Free Report)

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.

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