AbCellera Biologics (NASDAQ:ABCL) Stock Price Up 3.3% – Time to Buy?

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on ABCL shares. Benchmark reaffirmed a “hold” rating on shares of AbCellera Biologics in a research note on Tuesday, November 5th. Stifel Nicolaus restated a “buy” rating and set a $12.00 target price (down previously from $14.00) on shares of AbCellera Biologics in a report on Tuesday, November 5th.

AbCellera Biologics Trading Up 5.2 %

The company has a market cap of $841.79 million, a PE ratio of -4.67 and a beta of 0.41. The firm has a 50 day moving average of $2.82 and a two-hundred day moving average of $2.83.

AbCellera Biologics (NASDAQ:ABCL) 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 company had revenue of $6.51 million for the quarter, compared to the consensus estimate 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 in the previous year, the business earned ($0.10) earnings per share. On average, research analysts forecast that AbCellera Biologics Inc. will post -0.59 EPS for the current year.

Hedge Funds Weigh In On AbCellera Biologics

A number of hedge funds have recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI bought a new stake in shares of AbCellera Biologics in the 3rd quarter worth $26,000. Evergreen Capital Management LLC bought a new stake in AbCellera Biologics in the 2nd quarter worth about $32,000. NBC Securities Inc. increased its holdings in AbCellera Biologics by 56.0% in the 3rd quarter. NBC Securities Inc. now owns 11,420 shares of the company’s stock worth $29,000 after buying an additional 4,100 shares in the last quarter. Ballentine Partners LLC purchased a new position in AbCellera Biologics in the 3rd quarter worth about $54,000. Finally, B. Riley Wealth Advisors Inc. lifted its stake in AbCellera Biologics by 104.8% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 21,500 shares of the company’s stock valued at $64,000 after acquiring an additional 11,000 shares during the period. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

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.