AbCellera Biologics’ (ABCL) “Market Perform” Rating Reiterated at Leerink Partners

AbCellera Biologics (NASDAQ:ABCL)‘s stock had its “market perform” rating reaffirmed by research analysts at Leerink Partners in a research note issued on Friday, Marketbeat reports. They presently have a $4.00 price target on the stock. Leerink Partners’ price objective indicates a potential downside of 11.70% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. KeyCorp lifted their price objective on shares of AbCellera Biologics from $5.00 to $10.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of AbCellera Biologics from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, Stifel Nicolaus dropped their price target on AbCellera Biologics from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, AbCellera Biologics has an average rating of “Moderate Buy” and a consensus price target of $7.75.

AbCellera Biologics Stock Down 3.4%

Shares of AbCellera Biologics stock opened at $4.53 on Friday. The business has a fifty day simple moving average of $5.10 and a 200-day simple moving average of $3.98. AbCellera Biologics has a fifty-two week low of $1.89 and a fifty-two week high of $6.51. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -8.24 and a beta of 0.70.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.05. AbCellera Biologics had a negative net margin of 511.88% and a negative return on equity of 16.17%. The firm had revenue of $17.08 million for the quarter, compared to analysts’ expectations of $7.55 million. Analysts anticipate that AbCellera Biologics will post -0.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Hollencrest Capital Management acquired a new stake in AbCellera Biologics in the 3rd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of AbCellera Biologics during the 2nd quarter worth $35,000. Stratos Wealth Advisors LLC acquired a new position in AbCellera Biologics in the 1st quarter valued at $27,000. J2 Capital Management Inc acquired a new position in AbCellera Biologics in the 2nd quarter valued at $45,000. Finally, Lantern Wealth Advisors LLC bought a new position in AbCellera Biologics in the 2nd quarter worth $51,000. Institutional investors and hedge funds own 61.42% of the company’s stock.

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.