AbCellera Biologics (NASDAQ:ABCL) Stock Price Up 5.7% – Still a Buy?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s share price was up 5.7% during mid-day trading on Wednesday . The stock traded as high as $3.02 and last traded at $2.99. Approximately 792,233 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 1,695,108 shares. The stock had previously closed at $2.83.

Analyst Ratings Changes

A number of research firms recently commented on ABCL. Stifel Nicolaus reiterated a “buy” rating and set 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 Stock Performance

The business’s 50-day moving average price is $2.69 and its 200-day moving average price is $2.93. The stock has a market cap of $892.02 million, a P/E ratio of -4.98 and a beta of 0.35.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.03). AbCellera Biologics had a negative return on equity of 15.73% and a negative net margin of 533.32%. The company had revenue of $6.51 million during the quarter, compared to analysts’ expectations of $8.95 million. During the same quarter in the previous year, the firm earned ($0.10) EPS. As a group, equities research analysts expect that AbCellera Biologics Inc. will post -0.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. 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. raised its holdings in AbCellera Biologics by 56.0% during the 3rd 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 period. Evergreen Capital Management LLC bought a new stake in shares of AbCellera Biologics during the 2nd quarter worth approximately $32,000. Ballentine Partners LLC bought a new position in AbCellera Biologics in the third quarter worth about $54,000. Finally, Clarkston Capital Partners LLC purchased a new position in shares of AbCellera Biologics in the third quarter worth $57,000. 61.42% of the stock is owned by hedge funds and other 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.