AbCellera Biologics (NASDAQ:ABCL) Stock Bumped Up to Strong-Buy by UBS Group

AbCellera Biologics (NASDAQ:ABCL) was upgraded by UBS Group to a “strong-buy” rating in a report released on Sunday, Zacks reports.

Other equities research analysts have also issued research reports about the company. Truist Financial increased their price target on AbCellera Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. began coverage on AbCellera Biologics in a report on Tuesday, September 29th. They set an “overweight” rating and a $17.00 price target on the stock. The Goldman Sachs Group initiated coverage on AbCellera Biologics in a research note on Thursday, September 24th. They set a “neutral” rating and a $13.00 price target for the company. Wall Street Zen downgraded AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Saturday, September 26th. Finally, Cantor Fitzgerald boosted their target price on shares of AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.89.

AbCellera Biologics Price Performance

NASDAQ ABCL opened at $12.61 on Friday. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of -23.35 and a beta of 1.41. AbCellera Biologics has a 1-year low of $2.74 and a 1-year high of $15.02. The business’s fifty day moving average price is $11.66 and its 200-day moving average price is $7.50.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.02). AbCellera Biologics had a negative net margin of 248.83% and a negative return on equity of 17.49%. The business had revenue of $4.05 million for the quarter, compared to analysts’ expectations of $7.85 million. Equities research analysts anticipate that AbCellera Biologics will post -0.69 EPS for the current year.

Institutional Investors Weigh In On AbCellera Biologics

Several institutional investors and hedge funds have recently modified their holdings of ABCL. BlackRock Inc. acquired a new position in AbCellera Biologics during the 2nd quarter worth $29,872,000. Hsbc Holdings PLC acquired a new position in shares of AbCellera Biologics in the 2nd quarter valued at $929,000. Bank of America Corp DE purchased a new stake in AbCellera Biologics during the 2nd quarter valued at approximately $48,211,000. SEB Asset Management AB acquired a new stake in shares of AbCellera Biologics during the first quarter worth $1,188,000. Finally, Man Group plc purchased a new stake in shares of AbCellera Biologics in the second quarter valued at about $1,797,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Company Profile

AbCellera Biologics Inc is a biotechnology company that develops technologies for the discovery and development of antibody medicines. Its platform combines high-throughput screening, single-cell analysis, microfluidics, data science and machine learning to identify antibodies with potential therapeutic applications.

The company works with pharmaceutical and biotechnology partners worldwide, helping them discover and advance antibody candidates for areas such as cancer, infectious diseases, autoimmune disorders and other medical conditions.