AbCellera Biologics (NASDAQ:ABCL) Shares Climb 4.6% – Time to Buy?

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) were up 4.6% on Tuesday. The stock traded as high as $14.90 and last traded at $14.5560. 4,404,271 shares changed hands during trading, a decline of 28% from the average session volume of 6,090,082 shares. The stock had previously closed at $13.92.

Analyst Ratings Changes

A number of brokerages have commented on ABCL. Truist Financial lifted 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. Stifel Nicolaus lifted their target price on shares of AbCellera Biologics from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Tuesday, July 7th. JPMorgan Chase & Co. began coverage on shares of AbCellera Biologics in a research report on Tuesday. They set an “overweight” rating and a $17.00 price target for the company. Finally, Cantor Fitzgerald boosted their price objective on shares of AbCellera Biologics from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, AbCellera Biologics currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.38.

AbCellera Biologics Trading Down 0.3%

The company has a market capitalization of $4.46 billion, a P/E ratio of -26.54 and a beta of 1.32. The company’s 50 day moving average is $10.32 and its 200-day moving average is $6.90.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%.The business had revenue of $4.05 million during the quarter, compared to analysts’ expectations of $7.85 million. Analysts predict that AbCellera Biologics Inc. will post -0.68 EPS for the current fiscal year.

Institutional Trading of AbCellera Biologics

Several institutional investors have recently bought and sold shares of the company. WINTON GROUP Ltd purchased a new position in AbCellera Biologics in the second quarter worth about $442,000. NewEdge Advisors LLC increased its position in shares of AbCellera Biologics by 4,850.7% during the second quarter. NewEdge Advisors LLC now owns 14,852 shares of the company’s stock valued at $117,000 after acquiring an additional 14,552 shares in the last quarter. HighTower Advisors LLC raised its holdings in AbCellera Biologics by 12.5% in the 2nd quarter. HighTower Advisors LLC now owns 107,933 shares of the company’s stock worth $847,000 after acquiring an additional 12,000 shares during the last quarter. XML Financial LLC lifted its position in AbCellera Biologics by 35.7% in the 2nd quarter. XML Financial LLC now owns 57,025 shares of the company’s stock valued at $448,000 after acquiring an additional 15,000 shares in the last quarter. Finally, Headlands Technologies LLC boosted its stake in AbCellera Biologics by 34.8% during the 2nd quarter. Headlands Technologies LLC now owns 246,252 shares of the company’s stock valued at $1,933,000 after purchasing an additional 63,596 shares during the last quarter. 61.42% of the stock is owned by hedge funds and other institutional investors.

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.