AbCellera Biologics (NASDAQ:ABCL) Trading Up 6.7%

AbCellera Biologics Inc. (NASDAQ:ABCL)’s stock price was up 6.7% during trading on Tuesday . The company traded as high as $2.86 and last traded at $2.86. Approximately 1,026,589 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 1,583,415 shares. The stock had previously closed at $2.68.

Analyst Ratings Changes

A number of equities analysts have recently commented on ABCL shares. KeyCorp reissued an “overweight” rating and issued a $5.00 price target (down previously from $7.00) on shares of AbCellera Biologics in a report on Thursday, July 11th. Benchmark lowered shares of AbCellera Biologics from a “buy” rating to a “hold” rating in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.20.

AbCellera Biologics Price Performance

The firm’s 50-day moving average price is $2.80 and its 200-day moving average price is $3.53. The stock has a market cap of $802.77 million, a P/E ratio of -5.25 and a beta of 0.37.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.02. The company had revenue of $7.30 million during the quarter, compared to analyst estimates of $10.12 million. AbCellera Biologics had a negative net margin of 463.77% and a negative return on equity of 13.40%. AbCellera Biologics’s quarterly revenue was down 27.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.11) earnings per share. Sell-side analysts expect that AbCellera Biologics Inc. will post -0.55 earnings per share for the current year.

Hedge Funds Weigh In On AbCellera Biologics

A number of large investors have recently added to or reduced their stakes in the company. Evergreen Capital Management LLC acquired a new position in AbCellera Biologics in the 2nd quarter worth approximately $32,000. Pacifica Partners Inc. raised its stake in AbCellera Biologics by 78.8% in the 1st quarter. Pacifica Partners Inc. now owns 8,619 shares of the company’s stock valued at $39,000 after purchasing an additional 3,799 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in AbCellera Biologics by 104.8% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 21,500 shares of the company’s stock valued at $64,000 after purchasing an additional 11,000 shares during the last quarter. Seelaus Asset Management LLC acquired a new stake in shares of AbCellera Biologics in the 1st quarter worth $68,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of AbCellera Biologics in the 4th quarter worth $81,000. 61.42% of the stock is currently owned by institutional investors.

AbCellera Biologics Company Profile

AbCellera Biologics Inc builds an engine for antibody drug discovery and development. Its engine discovers antibodies from natural immune responses, which are pre-enriched for antibodies. The company’s preclinical products are ABCL635 for metabolic and endocrine conditions; and ABCL575 for atopic dermatitis.