AbCellera Biologics (NASDAQ:ABCL) Trading Up 3.3% - Should You Buy?

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) shot up 3.3% on Friday . The stock traded as high as $2.80 and last traded at $2.80. 151,683 shares changed hands during trading, a decline of 91% from the average session volume of 1,762,049 shares. The stock had previously closed at $2.71.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ABCL shares. Benchmark reissued a "hold" rating on shares of AbCellera Biologics in a research note on Tuesday, November 5th. Stifel Nicolaus reiterated a "buy" rating and issued a $12.00 price objective (down from $14.00) on shares of AbCellera Biologics in a research report on Tuesday, November 5th.

AbCellera Biologics Stock Performance

The stock has a market cap of $841.79 million, a P/E ratio of -4.67 and a beta of 0.41. The stock has a fifty day simple moving average of $2.81 and a 200-day simple moving average of $2.83.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The business had revenue of $6.51 million for the quarter, compared to the consensus estimate of $8.95 million. AbCellera Biologics had a negative return on equity of 15.73% and a negative net margin of 533.32%. During the same period in the prior year, the business earned ($0.10) earnings per share. On average, research analysts anticipate that AbCellera Biologics Inc. will post -0.59 earnings per share for the current year.

Institutional Investors Weigh In On AbCellera Biologics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Resolute Advisors LLC increased its position in shares of AbCellera Biologics by 7.0% in the third quarter. Resolute Advisors LLC now owns 61,576 shares of the company's stock valued at $160,000 after acquiring an additional 4,050 shares during the last quarter. NBC Securities Inc. increased its position in shares of AbCellera Biologics by 56.0% during the 3rd quarter. NBC Securities Inc. now owns 11,420 shares of the company's stock worth $29,000 after purchasing an additional 4,100 shares during the last quarter. State Street Corp increased its position in shares of AbCellera Biologics by 1.5% during the 3rd quarter. State Street Corp now owns 323,229 shares of the company's stock worth $840,000 after purchasing an additional 4,679 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of AbCellera Biologics during the 3rd quarter worth approximately $26,000. Finally, Evergreen Capital Management LLC acquired a new stake in shares of AbCellera Biologics in the 2nd quarter valued at approximately $32,000. 61.42% of the stock is owned by 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.