AbCellera Biologics (NASDAQ:ABCL) Sees Strong Trading Volume - Should You Buy?

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 1,698,522 shares were traded during trading, an increase of 4% from the previous session's volume of 1,638,096 shares.The stock last traded at $3.07 and had previously closed at $2.70.

Wall Street Analysts Forecast Growth

ABCL has been the subject of several research analyst reports. Stifel Nicolaus reiterated a "buy" rating and issued a $12.00 price target (down previously from $14.00) on shares of AbCellera Biologics in a report on Tuesday, November 5th. Benchmark restated a "hold" rating on shares of AbCellera Biologics in a report on Tuesday, November 5th.

AbCellera Biologics Trading Up 13.3 %

The company has a 50 day moving average of $2.64 and a 200-day moving average of $3.02. The firm has a market capitalization of $903.82 million, a P/E ratio of -4.95 and a beta of 0.35.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last announced its 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 net margin of 533.32% and a negative return on equity of 15.73%. The company had revenue of $6.51 million during the quarter, compared to the consensus estimate of $8.95 million. During the same quarter in the previous year, the company earned ($0.10) earnings per share. As a group, sell-side analysts forecast that AbCellera Biologics Inc. will post -0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Arcadia Investment Management Corp MI bought a new position in shares of AbCellera Biologics during the 3rd quarter worth approximately $26,000. Evergreen Capital Management LLC acquired a new stake in shares of AbCellera Biologics during the 2nd quarter worth about $32,000. NBC Securities Inc. lifted its holdings in shares of AbCellera Biologics by 56.0% in the 3rd quarter. NBC Securities Inc. now owns 11,420 shares of the company's stock valued at $29,000 after purchasing an additional 4,100 shares during the last quarter. Ballentine Partners LLC purchased a new position in shares of AbCellera Biologics during the 3rd quarter worth approximately $54,000. Finally, B. Riley Wealth Advisors Inc. raised its holdings in shares of AbCellera Biologics by 104.8% in the second quarter. B. Riley Wealth Advisors Inc. now owns 21,500 shares of the company's stock worth $64,000 after acquiring an additional 11,000 shares during the last quarter. Hedge funds and other institutional investors own 61.42% of the company's stock.

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.

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