AbCellera Biologics (NASDAQ:ABCL) Trading Up 10.5% – Should You Buy?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s stock price shot up 10.5% on Wednesday . The company traded as high as $3.09 and last traded at $3.06. 840,799 shares were traded during trading, a decline of 76% from the average session volume of 3,444,538 shares. The stock had previously closed at $2.77.

Analyst Upgrades and Downgrades

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

AbCellera Biologics Stock Down 0.7 %

The firm’s 50-day moving average is $2.91 and its 200 day moving average is $2.80.

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

Institutional Trading of AbCellera Biologics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABCL. Arcadia Investment Management Corp MI acquired a new stake in shares of AbCellera Biologics during the 3rd quarter worth about $26,000. NBC Securities Inc. boosted 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 worth $29,000 after acquiring an additional 4,100 shares during the last quarter. Evergreen Capital Management LLC acquired a new stake in AbCellera Biologics during the second quarter worth approximately $32,000. Ballentine Partners LLC purchased a new stake in AbCellera Biologics in the 3rd quarter worth approximately $54,000. Finally, Clarkston Capital Partners LLC acquired a new position in AbCellera Biologics in the 3rd quarter valued at $57,000. 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.