AbCellera Biologics (NASDAQ:ABCL) Stock Price Up 7.2% – Still a Buy?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s stock price rose 7.2% on Thursday . The stock traded as high as $3.14 and last traded at $3.14. 570,329 shares were traded during trading, a decline of 68% from the average daily volume of 1,788,647 shares. The stock had previously closed at $2.93.

Analysts Set New Price Targets

Several analysts recently issued reports on ABCL shares. Stifel Nicolaus reiterated a “buy” rating and issued a $12.00 price target (down from $14.00) on shares of AbCellera Biologics in a report on Tuesday, November 5th. Benchmark reiterated a “hold” rating on shares of AbCellera Biologics in a report on Tuesday, November 5th.

AbCellera Biologics Trading Up 7.2 %

The company has a market capitalization of $927.45 million, a PE ratio of -5.15 and a beta of 0.41. The business’s 50-day simple moving average is $2.85 and its two-hundred day simple moving average is $2.79.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). AbCellera Biologics had a negative net margin of 533.32% and a negative return on equity of 15.73%. The business had revenue of $6.51 million for the quarter, compared to analyst estimates of $8.95 million. During the same quarter last year, the business earned ($0.10) EPS. On average, analysts forecast that AbCellera Biologics Inc. will post -0.59 EPS for the current year.

Institutional Trading of AbCellera Biologics

Several institutional investors have recently added to or reduced their stakes in the stock. Arcadia Investment Management Corp MI bought a new stake in shares of AbCellera Biologics in the 3rd quarter worth about $26,000. NBC Securities Inc. increased its holdings in AbCellera Biologics by 56.0% in the third quarter. NBC Securities Inc. now owns 11,420 shares of the company’s stock valued at $29,000 after buying an additional 4,100 shares during the last quarter. Evergreen Capital Management LLC acquired a new stake in AbCellera Biologics during the second quarter valued at approximately $32,000. Ballentine Partners LLC bought a new position in AbCellera Biologics during the 3rd quarter worth approximately $54,000. Finally, Clarkston Capital Partners LLC acquired a new position in shares of AbCellera Biologics in the 3rd quarter worth approximately $57,000. 61.42% of the stock is owned by institutional investors and hedge funds.

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.