AbCellera Biologics (NASDAQ:ABCL) Trading Up 18.8% – Still a Buy?

AbCellera Biologics Inc. (NASDAQ:ABCL) was up 18.8% on Wednesday . The stock traded as high as $3.40 and last traded at $3.64. Approximately 553,719 shares traded hands during trading, a decline of 83% from the average daily volume of 3,342,396 shares. The stock had previously closed at $3.06.

Analyst Ratings Changes

Several brokerages have recently issued reports on ABCL. KeyCorp decreased their price objective on AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Benchmark reiterated a “hold” rating on shares of AbCellera Biologics in a report on Tuesday, November 5th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $12.00 target price (down previously from $14.00) on shares of AbCellera Biologics in a research note on Tuesday, November 5th.

AbCellera Biologics Stock Up 17.2 %

The firm has a fifty day simple moving average of $2.92 and a 200-day simple moving average of $2.81. The company has a market cap of $1.06 billion, a PE ratio of -5.89 and a beta of 0.40.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.17) EPS 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 during the quarter, compared to analyst estimates of $8.95 million. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. Equities research analysts forecast that AbCellera Biologics Inc. will post -0.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Walleye Capital LLC purchased a new stake in shares of AbCellera Biologics during the 3rd quarter worth approximately $668,000. Renaissance Technologies LLC grew its holdings in AbCellera Biologics by 16.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,728,603 shares of the company’s stock valued at $5,117,000 after purchasing an additional 239,000 shares in the last quarter. GSA Capital Partners LLP increased its stake in AbCellera Biologics by 991.3% during the third quarter. GSA Capital Partners LLP now owns 241,866 shares of the company’s stock valued at $629,000 after purchasing an additional 219,703 shares during the last quarter. State Street Corp increased its stake in shares of AbCellera Biologics by 1.5% in the third quarter. State Street Corp now owns 323,229 shares of the company’s stock valued at $840,000 after purchasing an additional 4,679 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of AbCellera Biologics by 104.9% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 308,567 shares of the company’s stock worth $913,000 after buying an additional 158,000 shares in the last quarter. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

About AbCellera Biologics

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.