Benchmark Reiterates “Hold” Rating for AbCellera Biologics (NASDAQ:ABCL)

AbCellera Biologics (NASDAQ:ABCL)‘s stock had its “hold” rating restated by stock analysts at Benchmark in a note issued to investors on Tuesday, Benzinga reports.

Several other analysts also recently issued reports on the stock. Stifel Nicolaus reaffirmed 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. KeyCorp reissued an “overweight” rating and set a $5.00 price objective (down previously from $7.00) on shares of AbCellera Biologics in a research note on Thursday, July 11th.

AbCellera Biologics Price Performance

Shares of NASDAQ ABCL opened at $2.76 on Tuesday. AbCellera Biologics has a 12-month low of $2.34 and a 12-month high of $6.05. The company has a market capitalization of $813.28 million, a PE ratio of -4.52 and a beta of 0.35. The firm’s 50-day moving average is $2.63 and its two-hundred day moving average is $3.05.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). AbCellera Biologics had a negative net margin of 463.77% and a negative return on equity of 13.40%. The business had revenue of $6.51 million during the quarter, compared to analysts’ expectations of $8.95 million. During the same period last year, the company earned ($0.10) EPS. On average, analysts forecast that AbCellera Biologics will post -0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

Institutional investors and hedge funds have recently modified their holdings of the company. Intellectus Partners LLC increased its position in 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 purchasing an additional 3,750 shares during the last quarter. Resolute Advisors LLC increased its position in AbCellera Biologics by 7.0% during the third quarter. Resolute Advisors LLC now owns 61,576 shares of the company’s stock worth $160,000 after purchasing an additional 4,050 shares during the last quarter. NBC Securities Inc. increased 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 purchasing an additional 4,100 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in AbCellera Biologics during the third quarter worth approximately $26,000. Finally, Evergreen Capital Management LLC acquired a new position in AbCellera Biologics during the second quarter worth approximately $32,000. 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.