AbCellera Biologics Inc. [ABCL] stock Initiated by Truist analyst, price target now $29

AbCellera Biologics Inc. [NASDAQ: ABCL] slipped around -0.8 points on Monday, while shares priced at $11.91 at the close of the session, down -6.29%. The company report on December 1, 2022 that AbCellera and Rallybio Announce Strategic Alliance to Discover, Develop, and Commercialize Novel Antibody-Based Therapeutics for Rare Diseases.

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AbCellera (Nasdaq: ABCL) and Rallybio Corporation (Nasdaq: RLYB) announced today that they have entered into a strategic alliance to discover, develop, and commercialize novel antibody-based therapeutics for rare diseases. This multi-year, multi-target collaboration will combine AbCellera’s antibody discovery engine with Rallybio’s clinical and commercial expertise in rare diseases to identify optimal clinical candidates and ultimately deliver therapies to patients.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221129005911/en/.

AbCellera Biologics Inc. stock is now -16.71% down from its year-to-date (YTD) trading value. ABCL Stock saw the intraday high of $12.72 and lowest of $11.85 per share. The company’s 52-week high price is 15.90, which means current price is +119.74% above from all time high which was touched on 11/15/22.

Compared to the average trading volume of 1.80M shares, ABCL reached a trading volume of 5552291 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about AbCellera Biologics Inc. [ABCL]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ABCL shares is $29.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ABCL stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Truist have made an estimate for AbCellera Biologics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 16, 2022. While these analysts kept the previous recommendation, The Benchmark Company raised their target price to Buy. The new note on the price target was released on December 21, 2021, representing the official price target for AbCellera Biologics Inc. stock. Previously, the target price had yet another raise to $33, while Piper Sandler analysts kept a Overweight rating on ABCL stock.

The Average True Range (ATR) for AbCellera Biologics Inc. is set at 0.82, with the Price to Sales ratio for ABCL stock in the period of the last 12 months amounting to 5.86. The Price to Book ratio for the last quarter was 2.72, with the Price to Cash per share for the same quarter was set at 1.25. Price to Free Cash Flow for ABCL in the course of the last twelve months was 21.82.

How has ABCL stock performed recently?

AbCellera Biologics Inc. [ABCL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.17. With this latest performance, ABCL shares dropped by -1.65% in over the last four-week period, additionally plugging by 55.28% over the last 6 months – not to mention a drop of -15.05% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ABCL stock in for the last two-week period is set at 39.87, with the RSI for the last a single of trading hit 29.99, and the three-weeks RSI is set at 45.43 for AbCellera Biologics Inc. [ABCL]. The present Moving Average for the last 50 days of trading for this stock 11.79, while it was recorded at 12.81 for the last single week of trading, and 10.12 for the last 200 days.

AbCellera Biologics Inc. [ABCL]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and AbCellera Biologics Inc. [ABCL] shares currently have an operating margin of +66.61. AbCellera Biologics Inc.’s Net Margin is presently recorded at +40.90.

Return on Equity for this stock inclined to 16.53, with Return on Assets sitting at 13.21.

AbCellera Biologics Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 9.90.

Earnings analysis for AbCellera Biologics Inc. [ABCL]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ABCL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for AbCellera Biologics Inc. go to 10.00%.

Insider trade positions for AbCellera Biologics Inc. [ABCL]

There are presently around $1,548 million, or 46.90% of ABCL stock, in the hands of institutional investors. The top three institutional holders of ABCL stocks are: BAILLIE GIFFORD & CO with ownership of 13,357,668, which is approximately 0.022% of the company’s market cap and around 19.70% of the total institutional ownership; BLACKROCK INC., holding 12,569,140 shares of the stock with an approximate value of $149.7 million in ABCL stocks shares; and VOYA INVESTMENT MANAGEMENT LLC, currently with $128.36 million in ABCL stock with ownership of nearly 13745.122% of the company’s market capitalization.

Positions in AbCellera Biologics Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 117 institutional holders increased their position in AbCellera Biologics Inc. [NASDAQ:ABCL] by around 23,844,026 shares. Additionally, 56 investors decreased positions by around 30,923,774 shares, while 31 investors held positions by with 75,170,629 shares. The mentioned changes placed institutional holdings at 129,938,429 shares, according to the latest SEC report filing. ABCL stock had 44 new institutional investments in for a total of 3,454,772 shares, while 15 institutional investors sold positions of 12,420,610 shares during the same period.

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