AbCellera Biologics (NASDAQ:ABCL) Trading 4.3% Higher

AbCellera Biologics Inc. (NASDAQ:ABCL) traded up 4.3% during trading on Wednesday . The company traded as high as $4.25 and last traded at $4.14. 697,893 shares changed hands during trading, a decline of 48% from the average session volume of 1,355,090 shares. The stock had previously closed at $3.97.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a report on Thursday, February 22nd. Stifel Nicolaus cut their target price on AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, AbCellera Biologics presently has an average rating of “Buy” and an average target price of $15.86.

AbCellera Biologics Trading Down 1.8 %

The company’s 50-day moving average price is $4.65 and its two-hundred day moving average price is $4.82. The company has a market cap of $1.14 billion, a P/E ratio of -7.71 and a beta of 0.36.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The firm had revenue of $9.18 million for the quarter, compared to analyst estimates of $9.58 million. AbCellera Biologics had a negative net margin of 384.99% and a negative return on equity of 12.36%. As a group, analysts anticipate that AbCellera Biologics Inc. will post -0.66 earnings per share for the current year.

Institutional Investors Weigh In On AbCellera Biologics

Institutional investors and hedge funds have recently bought and sold shares of the business. PFG Investments LLC bought a new stake in shares of AbCellera Biologics in the 1st quarter worth approximately $75,000. TrueMark Investments LLC boosted its holdings in shares of AbCellera Biologics by 13.5% during the first quarter. TrueMark Investments LLC now owns 109,957 shares of the company’s stock valued at $498,000 after acquiring an additional 13,104 shares during the period. Pacifica Partners Inc. boosted its holdings in shares of AbCellera Biologics by 78.8% during the first quarter. Pacifica Partners Inc. now owns 8,619 shares of the company’s stock valued at $39,000 after acquiring an additional 3,799 shares during the period. B. Riley Wealth Advisors Inc. grew its position in shares of AbCellera Biologics by 85.7% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,500 shares of the company’s stock worth $111,000 after acquiring an additional 9,000 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of AbCellera Biologics in the fourth quarter valued at approximately $81,000. Institutional investors and hedge funds own 61.42% of the company’s stock.

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.