Healthy Upside Potential: AbCellera Biologics Inc. (ABCL)

AbCellera Biologics Inc. (NASDAQ: ABCL) stock fell -3.93% on Monday to $5.13 against a previous-day closing price of $5.34. With 1.44 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.6 million shares. The 52-week range on ABCL shows that it touched its highest point at $14.97 and its lowest point at $5.12 during that stretch. It currently has a 1-year price target of $24.43. Beta for the stock currently stands at 0.01.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ABCL was down-trending over the past week, with a drop of -4.29%, but this was down by -6.73% over a month. Three-month performance dropped to -32.32% while six-month performance fell -30.58%. The stock lost -52.85% in the past year, while it has lost -49.36% so far this year. A look at the trailing 12-month EPS for ABCL yields -0.27 with Next year EPS estimates of -0.61. For the next quarter, that number is -0.13. This implies an EPS growth rate of 4.40% for this year and -19.60% for next year.

Float and Shares Shorts:

At present, 288.91 million ABCL shares are outstanding with a float of 207.51 million shares on hand for trading. On Aug 30, 2023, short shares totaled 26.39 million, which was 9.12% higher than short shares on Jul 30, 2023. In addition to Dr. Carl L.G. Hansen Ph.D. as the firm’s CEO, Pres & Chairperson, Mr. Andrew Booth M.B.A. serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 46.99% of ABCL’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 35.09% of ABCL, in contrast to 22.27% held by mutual funds. Shares owned by individuals account for 17.77%. As the largest shareholder in ABCL with 9.11% of the stake, Baillie Gifford & Co. holds 26,364,751 shares worth 26,364,751. A second-largest stockholder of ABCL, Baker Bros. Advisors LP, holds 16,450,180 shares, controlling over 5.69% of the firm’s shares. Voya Investment Management Co. LL is the third largest shareholder in ABCL, holding 10,624,185 shares or 3.67% stake. With a 2.12% stake in ABCL, the Allianz Global Investors Fund – A is the largest stakeholder. A total of 6,133,665 shares are owned by the mutual fund manager. The Baillie Gifford Investment Funds, which owns about 2.03% of ABCL stock, is the second-largest Mutual Fund holder. It holds 5,872,000 shares valued at 32.0 million. American Funds Small Cap World Fu holds 1.89% of the stake in ABCL, owning 5,480,000 shares worth 29.87 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, ABCL reported revenue of $45.92M and operating income of -$6.86M. The EBITDA in the recently reported quarter was -$820.00k and diluted EPS was -$0.02.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ABCL since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ABCL analysts setting a high price target of $34.00 and a low target of $12.00, the average target price over the next 12 months is $24.43. Based on these targets, ABCL could surge 562.77% to reach the target high and rise by 133.92% to reach the target low. Reaching the average price target will result in a growth of 376.22% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded ABCL stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 30,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 9 while that of sell transactions has risen to 2 over the past year. The total number of shares bought during that period was 750,977 while 120,000 shares were sold.

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