AbCellera Biologics (NASDAQ:ABCL) Trading Up 11% – Should You Buy?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s share price shot up 11% during trading on Wednesday . The company traded as high as $5.55 and last traded at $5.6490. 1,786,510 shares were traded during mid-day trading, a decline of 67% from the average session volume of 5,381,780 shares. The stock had previously closed at $5.09.

Analyst Ratings Changes

A number of research firms have commented on ABCL. JonesTrading began coverage on AbCellera Biologics in a report on Friday, April 10th. They issued a “buy” rating and a $11.00 target price for the company. Wall Street Zen downgraded AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Cantor Fitzgerald initiated coverage on AbCellera Biologics in a research note on Tuesday, May 5th. They set an “overweight” rating and a $7.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.80.

AbCellera Biologics Stock Performance

The stock has a market cap of $1.72 billion, a PE ratio of -11.76 and a beta of 1.18. The business has a 50-day moving average of $4.68 and a 200 day moving average of $3.97.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.08. The company had revenue of $8.32 million during the quarter, compared to analysts’ expectations of $5.41 million. AbCellera Biologics had a negative return on equity of 14.86% and a negative net margin of 181.75%.During the same quarter in the previous year, the business earned ($0.15) EPS. Equities analysts expect that AbCellera Biologics Inc. will post -0.67 EPS for the current fiscal year.

Institutional Trading of AbCellera Biologics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its holdings in AbCellera Biologics by 13.9% in the 1st quarter. Bank of America Corp DE now owns 2,999,936 shares of the company’s stock valued at $10,470,000 after buying an additional 367,064 shares during the period. Royal Bank of Canada grew its holdings in shares of AbCellera Biologics by 5.6% during the 1st quarter. Royal Bank of Canada now owns 394,753 shares of the company’s stock worth $1,378,000 after purchasing an additional 20,897 shares during the period. SEB Asset Management AB acquired a new position in AbCellera Biologics during the 1st quarter worth approximately $1,188,000. Hsbc Holdings PLC lifted its position in AbCellera Biologics by 22.6% during the 1st quarter. Hsbc Holdings PLC now owns 143,472 shares of the company’s stock worth $499,000 after acquiring an additional 26,441 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in AbCellera Biologics during the 1st quarter worth approximately $46,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

About AbCellera Biologics

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.