AbCellera Biologics (NASDAQ:ABCL) Given "Buy" Rating at Stifel Nicolaus

AbCellera Biologics (NASDAQ:ABCL - Get Free Report)'s stock had its "buy" rating reissued by Stifel Nicolaus in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $12.00 target price on the stock, down from their prior target price of $14.00. Stifel Nicolaus' target price indicates a potential upside of 341.18% from the company's current price.

Several other research analysts have also recently commented on the stock. KeyCorp restated an "overweight" rating and issued a $5.00 target price (down previously from $7.00) on shares of AbCellera Biologics in a research report on Thursday, July 11th. Benchmark lowered shares of AbCellera Biologics from a "buy" rating to a "hold" rating in a research note on Tuesday, August 20th.

AbCellera Biologics Price Performance

ABCL stock traded down $0.17 during midday trading on Tuesday, hitting $2.72. The stock had a trading volume of 3,818,699 shares, compared to its average volume of 1,631,721. The firm has a market cap of $801.50 million, a PE ratio of -5.04 and a beta of 0.35. AbCellera Biologics has a 12-month low of $2.34 and a 12-month high of $6.05. The company's 50-day moving average price is $2.62 and its 200 day moving average price is $3.06.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.03). AbCellera Biologics had a negative return on equity of 13.40% and a negative net margin of 463.77%. The business had revenue of $6.51 million for the quarter, compared to analysts' expectations of $8.95 million. During the same period last year, the company posted ($0.10) earnings per share. As a group, sell-side analysts anticipate that AbCellera Biologics will post -0.55 EPS for the current year.

Institutional Investors Weigh In On AbCellera Biologics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Baker BROS. Advisors LP raised its stake in shares of AbCellera Biologics by 20.1% during the first quarter. Baker BROS. Advisors LP now owns 27,525,640 shares of the company's stock worth $124,691,000 after buying an additional 4,615,887 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of AbCellera Biologics by 16.0% during the second quarter. Renaissance Technologies LLC now owns 1,728,603 shares of the company's stock worth $5,117,000 after buying an additional 239,000 shares during the last quarter. Intellectus Partners LLC raised its stake in shares of AbCellera Biologics by 0.7% during the second quarter. Intellectus Partners LLC now owns 545,533 shares of the company's stock worth $1,615,000 after buying an additional 3,750 shares during the last quarter. Citizens Financial Group Inc. RI bought a new stake in shares of AbCellera Biologics during the second quarter worth approximately $923,000. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of AbCellera Biologics by 104.9% during the second 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 during the last quarter. 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.