AbCellera Biologics (NASDAQ:ABCL) Hits New 52-Week High – Should You Buy?

AbCellera Biologics Inc. (NASDAQ:ABCL) reached a new 52-week high on Thursday . The company traded as high as $6.86 and last traded at $6.6750, with a volume of 6153303 shares trading hands. The stock had previously closed at $6.03.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald assumed coverage on AbCellera Biologics in a research note on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 price target for the company. JonesTrading initiated coverage on AbCellera Biologics in a report on Friday, April 10th. They issued a “buy” rating and a $11.00 price objective for the company. Wall Street Zen cut AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, AbCellera Biologics presently has an average rating of “Moderate Buy” and an average price target of $7.80.

AbCellera Biologics Stock Performance

The firm’s fifty day simple moving average is $4.94 and its 200 day simple moving average is $4.06. The stock has a market capitalization of $2.04 billion, a P/E ratio of -13.91 and a beta of 1.18.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.08. The company had revenue of $8.31 million during the quarter, compared to the consensus estimate of $5.41 million. AbCellera Biologics had a negative net margin of 181.75% and a negative return on equity of 14.86%. During the same quarter in the prior year, the firm posted ($0.15) EPS. Analysts anticipate that AbCellera Biologics Inc. will post -0.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. increased its stake in shares of AbCellera Biologics by 114.6% in the 1st quarter. Invesco Ltd. now owns 24,146 shares of the company’s stock valued at $54,000 after purchasing an additional 12,893 shares during the last quarter. Geode Capital Management LLC boosted its stake in AbCellera Biologics by 3.5% in the second quarter. Geode Capital Management LLC now owns 363,188 shares of the company’s stock valued at $1,246,000 after buying an additional 12,301 shares in the last quarter. Creative Planning boosted its stake in AbCellera Biologics by 6.9% in the second quarter. Creative Planning now owns 41,003 shares of the company’s stock valued at $141,000 after buying an additional 2,656 shares in the last quarter. Raymond James Financial Inc. grew its position in AbCellera Biologics by 17.0% in the second quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock valued at $96,000 after acquiring an additional 4,070 shares during the last quarter. Finally, Bank of America Corp DE grew its position in AbCellera Biologics by 1,304.5% in the second quarter. Bank of America Corp DE now owns 224,365 shares of the company’s stock valued at $770,000 after acquiring an additional 208,390 shares during the last quarter. 61.42% of the stock is currently owned by institutional investors.

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.