Shares of AbCellera Biologics Inc. have earned a consensus recommendation of “Buy”. (NASDAQ:ABCL – Get Rating) from the eight analysts that are covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $28.71.
A number of brokerages recently weighed in on ABCL. Piper Sandler decreased their price objective on shares of AbCellera Biologics from $22.00 to $21.00 in a research note on Tuesday, November 1st. SVB Leerink boosted their target price on shares of AbCellera Biologics from $13.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, November 9th. Goldman Sachs Group assumed coverage on shares of AbCellera Biologics in a research note on Thursday. They set a “buy” rating and a $30.00 target price for the company. Finally, Truist Financial initiated coverage on shares of AbCellera Biologics in a research note on Wednesday, November 16th. They set a “buy” rating and a $29.00 target price for the company.
Hedge Funds Weigh On AbCellera Biologics
Several hedge funds have recently made changes to their positions in ABCL. Worth Asset Management LLC purchased a new position in shares of AbCellera Biologics in the first quarter valued at $25,000. China Universal Asset Management Co Ltd acquired a new stake in shares of AbCellera Biologics during the third quarter worth $26,000. National Bank of Canada FI raised its holdings in shares of AbCellera Biologics by 69.3% during the third quarter. National Bank of Canada FI now owns 2,700 shares of the company’s stock worth $27,000 after buying an additional 1,105 shares in the last quarter. Toronto Dominion Bank acquired a new stake in shares of AbCellera Biologics during the third quarter worth $35,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of AbCellera Biologics during the third quarter worth $52,000. Institutional investors own 44.42% of the stock.
AbCellera Biologics Stock Performance
Shares of ABCL opened at $10.21 on Friday. The company’s 50-day moving average price is $11.92 and the company’s 200-day moving average price is $11.02. AbCellera Biologics has a 52-week low of $5.42 and a 52-week high of $15.90. The company has a market capitalization of $2.92 billion, a PE ratio of 12.92 and a beta of -0.42.
AbCellera Biologics Company Profile
AbCellera Biologics Inc develops an antibody discovery platform. The artificial intelligence-based antibody discovery platform searches and analyzes the database of natural immune systems to find antibodies that could be developed into drugs. As of December 31, 2021, the company had 156 discovery programs completed, underway, or under contract with 36 partners.
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