AbCellera Biologics (NASDAQ:ABCL) Shares Gap Up to $2.82

AbCellera Biologics Inc. (NASDAQ:ABCLGet Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $2.82, but opened at $2.90. AbCellera Biologics shares last traded at $2.87, with a volume of 274,028 shares.

Wall Street Analyst Weigh In

Separately, KeyCorp dropped their target price on AbCellera Biologics from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $16.17.

Read Our Latest Analysis on AbCellera Biologics

AbCellera Biologics Price Performance

The firm has a market cap of $823.34 million, a PE ratio of -5.38 and a beta of 0.39. The business’s fifty day moving average is $3.47 and its 200-day moving average is $4.41.

AbCellera Biologics (NASDAQ:ABCLGet Free Report) last released its earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. The business had revenue of $9.95 million during the quarter, compared to the consensus estimate of $10.73 million. AbCellera Biologics had a negative return on equity of 12.61% and a negative net margin of 410.47%. The business’s revenue for the quarter was down 18.4% on a year-over-year basis. During the same period last year, the business posted ($0.14) earnings per share. Analysts forecast that AbCellera Biologics Inc. will post -0.6 EPS for the current year.

Hedge Funds Weigh In On AbCellera Biologics

A number of large investors have recently made changes to their positions in ABCL. Baker BROS. Advisors LP lifted its holdings in AbCellera Biologics by 20.1% during the 1st quarter. Baker BROS. Advisors LP now owns 27,525,640 shares of the company’s stock worth $124,691,000 after purchasing an additional 4,615,887 shares in the last quarter. Nan Fung Group Holdings Ltd increased its holdings in AbCellera Biologics by 307.1% during the 1st quarter. Nan Fung Group Holdings Ltd now owns 50,971 shares of the company’s stock worth $231,000 after acquiring an additional 38,450 shares during the period. State Board of Administration of Florida Retirement System purchased a new stake in AbCellera Biologics in the 1st quarter worth approximately $239,000. Seelaus Asset Management LLC bought a new position in AbCellera Biologics in the 1st quarter valued at $68,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of AbCellera Biologics in the first quarter worth $454,000. 61.42% of the stock is owned by institutional investors.

About AbCellera Biologics

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for AbCellera Biologics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbCellera Biologics and related companies with MarketBeat.com's FREE daily email newsletter.