AbCellera Biologics (NASDAQ:ABCL) Receives “Hold” Rating from Benchmark

Benchmark restated their hold rating on shares of AbCellera Biologics (NASDAQ:ABCL) in a report published on Tuesday morning, Benzinga reports.

ABCL has been the subject of a number of other research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $12.00 price target (down previously from $14.00) on shares of AbCellera Biologics in a research report on Tuesday. KeyCorp reaffirmed an “overweight” rating and set a $5.00 target price (down previously from $7.00) on shares of AbCellera Biologics in a report on Thursday, July 11th.

AbCellera Biologics Stock Down 5.9 %

Shares of AbCellera Biologics stock opened at $2.72 on Tuesday. The company has a 50 day moving average price of $2.62 and a 200 day moving average price of $3.06. The firm has a market capitalization of $801.50 million, a P/E ratio of -5.04 and a beta of 0.35. AbCellera Biologics has a 52 week low of $2.34 and a 52 week high of $6.05.

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

Hedge Funds Weigh In On AbCellera Biologics

Several large investors have recently made changes to their positions in ABCL. Mirae Asset Global Investments Co. Ltd. purchased a new position in AbCellera Biologics during the first quarter worth approximately $454,000. State Board of Administration of Florida Retirement System acquired a new stake in AbCellera Biologics during the 1st quarter worth $239,000. Nan Fung Group Holdings Ltd grew its stake 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 valued at $231,000 after acquiring an additional 38,450 shares in the last quarter. Baker BROS. Advisors LP grew its position in shares of AbCellera Biologics by 20.1% in the first quarter. Baker BROS. Advisors LP now owns 27,525,640 shares of the company’s stock valued at $124,691,000 after purchasing an additional 4,615,887 shares in the last quarter. Finally, Intellectus Partners LLC grew its holdings in AbCellera Biologics by 0.7% in the 2nd quarter. Intellectus Partners LLC now owns 545,533 shares of the company’s stock valued at $1,615,000 after buying an additional 3,750 shares in the last quarter. 61.42% of the stock is currently owned by institutional investors and hedge funds.

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.