AbCellera Biologics Inc. (NASDAQ:ABCL) receives consensus rating of “Buy” from the brokerage

AbCellera Biologics Inc. (NASDAQ:ABCL – Get Your Free Report ) has earned a consensus rating of “Buy” from the six brokerages that are covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $14.20.

Separately, KeyCorp reissued an “overweight” rating and issued a $5.00 target price (down from $7.00) on shares of AbCellera Biologics in a report on Thursday, July 11th.

See our latest report on AbCellera Biologics

Institutional inputs and outputs

A number of institutional investors and hedge funds have recently bought and sold shares of ABCL. BROS bakery. Advisors LP grew its position in AbCellera Biologics by 20.1% in the first quarter. BROS bakery. Advisors LP now owns 27,525,640 shares of the company’s stock valued at $124,691,000 after purchasing an additional 4,615,887 shares during the last quarter. Pier 88 Investment Partners LLC grew its position in AbCellera Biologics by 362.0% in the second quarter. Pier 88 Investment Partners LLC now owns 161,620 shares of the company’s stock valued at $478,000 after acquiring an additional 126,640 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in AbCellera Biologics in the first quarter valued at about $454,000. State Board of Administration of Florida Retirement System bought a new position in AbCellera Biologics during the first quarter valued at about $239,000. Finally, Headlands Technologies LLC bought a new position in AbCellera Biologics in the second quarter valued at approximately $146,000. 61.42% of the shares are currently held by institutional investors.

AbCellera Biologics Stocks Up 5.3%

NASDAQ ABCL opened at $2.77 on Friday. The company has a market cap of $814.53 million, a PE ratio of -5.33 and a beta of 0.39. AbCellera Biologics has a 52-week low of $2.56 and a 52-week high of $6.14. The company’s 50-day simple moving average is $3.11, and its two-hundred-day simple moving average is $4.03.

AbCellera Biologics (NASDAQ:ABCL – Get Your Free Report ) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. AbCellera Biologics had a negative net margin of 410.47% and a negative return on equity of 12.61%. The firm had revenue of $7.30 million for the quarter, compared to the consensus estimate of $10.12 million. During the same period last year, the firm posted ($0.11) earnings per share. The company’s revenue for the quarter was down 27.7% year over year. As a group, equities research analysts anticipate that AbCellera Biologics will post -0.6 EPS for the current year.

AbCellera Biologics Company Profile

(Get a free report

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

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