AbCellera Biologics (NASDAQ:ABCL) Trading 10.7% Higher – Time to Buy?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s share price traded up 10.7% on Thursday . The stock traded as high as $6.17 and last traded at $6.3340. 1,513,241 shares were traded during trading, a decline of 72% from the average session volume of 5,370,899 shares. The stock had previously closed at $5.72.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. JonesTrading assumed coverage on AbCellera Biologics in a research note on Friday, April 10th. They set a “buy” rating and a $11.00 target price on the stock. Cantor Fitzgerald assumed coverage on AbCellera Biologics in a research note on Tuesday, May 5th. They set an “overweight” rating and a $7.00 target price on the stock. Wall Street Zen downgraded AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. 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 given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.80.

AbCellera Biologics Stock Performance

The stock has a 50 day moving average price of $4.42 and a 200 day moving average price of $3.89. The company has a market cap of $1.72 billion, a P/E ratio of -11.71 and a beta of 1.18.

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

Institutional Investors Weigh In On AbCellera Biologics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. AssuredPartners Investment Advisors LLC acquired a new stake in AbCellera Biologics during the 4th quarter worth about $34,000. OneDigital Investment Advisors LLC acquired a new stake in AbCellera Biologics during the 3rd quarter worth about $52,000. Insigneo Advisory Services LLC acquired a new stake in AbCellera Biologics during the 3rd quarter worth about $52,000. Voleon Capital Management LP acquired a new stake in AbCellera Biologics during the 3rd quarter worth about $56,000. Finally, Engineers Gate Manager LP acquired a new stake in AbCellera Biologics during the 4th quarter worth about $38,000. 61.42% of the stock is owned by institutional investors and hedge funds.

AbCellera Biologics Company Profile

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.