Stifel Nicolaus Reaffirms “Buy” Rating for AbCellera Biologics (NASDAQ:ABCL)

AbCellera Biologics (NASDAQ:ABCL)‘s stock had its “buy” rating restated by stock analysts at Stifel Nicolaus in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $12.00 price objective on the stock, down from their prior price objective of $14.00. Stifel Nicolaus’ price target would indicate a potential upside of 341.18% from the stock’s current price.

Several other research analysts have also issued reports on the company. KeyCorp restated an “overweight” rating and set a $5.00 target price (down previously from $7.00) on shares of AbCellera Biologics in a research report on Thursday, July 11th. Benchmark downgraded AbCellera Biologics from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th.

AbCellera Biologics Stock Performance

Shares of NASDAQ ABCL traded down $0.17 during trading on Tuesday, hitting $2.72. The company had a trading volume of 1,674,233 shares, compared to its average volume of 1,621,700. AbCellera Biologics has a 12 month low of $2.34 and a 12 month high of $6.05. The firm has a market capitalization of $801.50 million, a P/E ratio of -5.04 and a beta of 0.35. The stock has a 50 day simple moving average of $2.62 and a 200 day simple moving average of $3.06.

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 463.77% and a negative return on equity of 13.40%. The firm had revenue of $6.51 million for the quarter, compared to analysts’ expectations of $8.95 million. During the same quarter in the previous year, the business earned ($0.10) EPS. As a group, analysts predict that AbCellera Biologics will post -0.55 EPS for the current year.

Hedge Funds Weigh In On AbCellera Biologics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arcadia Investment Management Corp MI bought a new position in shares of AbCellera Biologics during the 3rd quarter worth approximately $26,000. NBC Securities Inc. raised its position in AbCellera Biologics by 56.0% during the third quarter. NBC Securities Inc. now owns 11,420 shares of the company’s stock valued at $29,000 after acquiring an additional 4,100 shares in the last quarter. Evergreen Capital Management LLC acquired a new position in AbCellera Biologics in the second quarter valued at approximately $32,000. Ballentine Partners LLC purchased a new position in shares of AbCellera Biologics during the 3rd quarter valued at approximately $54,000. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in AbCellera Biologics by 104.8% during the second quarter. B. Riley Wealth Advisors Inc. now owns 21,500 shares of the company’s stock worth $64,000 after buying an additional 11,000 shares in the last quarter. Hedge funds and other institutional investors 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.