AbCellera Biologics (NASDAQ:ABCL) Stock Price Up 9.3%

AbCellera Biologics Inc. (NASDAQ:ABCL) was up 9.3% during mid-day trading on Thursday . The company traded as high as $3.07 and last traded at $3.06. Approximately 1,108,619 shares traded hands during trading, a decline of 27% from the average daily volume of 1,515,144 shares. The stock had previously closed at $2.80.

Wall Street Analyst Weigh In

Separately, KeyCorp restated an “overweight” rating and issued a $5.00 target price (down from $7.00) on shares of AbCellera Biologics in a research note on Thursday. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $15.83.

AbCellera Biologics Stock Up 11.8 %

The business’s fifty day moving average price is $3.45 and its 200 day moving average price is $4.39. The firm has a market capitalization of $920.39 million, a PE ratio of -5.71 and a beta of 0.39.

AbCellera Biologics (NASDAQ:ABCL) last issued its earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. The company had revenue of $9.95 million for the quarter, compared to analysts’ expectations of $10.73 million. AbCellera Biologics had a negative net margin of 410.47% and a negative return on equity of 12.61%. The firm’s revenue was down 18.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.14) earnings per share. As a group, sell-side analysts forecast that AbCellera Biologics Inc. will post -0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

A number of hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. bought a new position in shares of AbCellera Biologics during the 3rd quarter worth about $48,000. GSA Capital Partners LLP grew its stake in AbCellera Biologics by 1,268.1% during the third quarter. GSA Capital Partners LLP now owns 146,190 shares of the company’s stock worth $672,000 after buying an additional 135,504 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of AbCellera Biologics by 19.6% during the fourth quarter. Principal Financial Group Inc. now owns 111,188 shares of the company’s stock worth $635,000 after purchasing an additional 18,217 shares in the last quarter. Signaturefd LLC lifted its position in shares of AbCellera Biologics by 306.3% during the fourth quarter. Signaturefd LLC now owns 10,596 shares of the company’s stock worth $61,000 after purchasing an additional 7,988 shares in the last quarter. Finally, Graham Capital Management L.P. lifted its position in shares of AbCellera Biologics by 149.4% during the third quarter. Graham Capital Management L.P. now owns 180,389 shares of the company’s stock worth $830,000 after purchasing an additional 108,060 shares in the last quarter. 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.