The stock of AbCellera Biologics Inc. (NASDAQ:ABCL) decreased by -$0.07 on Tuesday to finish at $5.52, down -1.25 percent. The last five days have seen an average of 2,136,360 shares of common stock traded. 7 times new highs were reached in the current year, with a fall of -$4.61. The average number of shares traded over the last 20 days was 2,237,950, while the average volume over the last 50 days totaled 3,082,788.
ABCL stock dropped -26.89% since last month. On 08/15/23, the company’s shares reached a one-month low of $5.50. The stock touched a high of $14.97 on 02/03/23, after rallying from a low of $5.53 in 52 weeks. The price of ABCL stock has declined by -45.51% or -$4.61 this year, reaching a new high 7 times. Still, the stock price is down -63.13% from the 52-week high.
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Insider Transactions
ABCL stock investors should be aware that AbCellera Biologics Inc. (ABCL) stock had its last reported insider trading activity 82 days ago on May 26. On May 26, 10% Owner Thermopylae Holdings Ltd. acquired 153,000 shares at $6.52 each. This transaction resulted in the insider spending $997,728. On May 26, Booth Andrew added 14,500 shares at a price of US$6.85. After the transaction, the insider now owns 153,000 shares. 10% Owner Thermopylae Holdings Ltd. had earlier bought 85,102 shares on Dec 16 for $10.10 a share. The transaction was completed for $859,249.
Valuation Metrics
Beta for the stock is 0.02. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 11.23, the price-to-book (PB) ratio of 1.33.
Financial Health
For the three months ended June 29, AbCellera Biologics Inc.’s quick ratio was 7.80, while its current ratio was 7.80, indicating its ability to pay off its debt. AbCellera Biologics Inc.’s EBITDA margin for the year ended June 29 was 65.11%, whereas its operating margin stood at -80.10% for the same period. Based on annual data, it had gross profit of $268.91 million and revenue of $485.42 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. ABCL’s return on assets (ROA) during the last 12 months has been -4.80%. There was a 11.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -6.00%.
Earnings Surprise
According to AbCellera Biologics Inc.’s quarterly financial report for the quarter that ended June 29, it had $615.95 million in cash and short-term investments. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $10.06 million, while revenues fell by -356.46% to $12.19 million. It was predicted that AbCellera Biologics Inc.’s quarterly earnings would be -$0.11, but it ended up being -$0.13, beating the consensus by 15.40%. EBITDA was -$44.13 million for the quarter. At the end of AbCellera Biologics Inc.’s most recent quarter ended June 29, its liabilities totaled 342.34 million, while its total debt was $84.03 million. Equity owned by shareholders amounts to $289.36 million.
Technical Picture
Here’s a quick look at AbCellera Biologics Inc.’s (ABCL) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 21.59%, suggesting the stock is oversold, with a 62.80% historical volatility rate.
The stochastic %K and %D were 1.62% and 4.64% respectively, while the average true range (ATR) was 0.35. Based on the 14-day stochastic reading of 0.84%, the RSI (14) reading is 28.83%. On the 9-day MACD Oscillator, the stock is at -0.32, and the 14-day reading is at -0.85.
Analyst Ratings
In its analyst report released on February 28, 2023, Cowen began covering AbCellera Biologics Inc. (NASDAQ: ABCL). The stock was rated as an Outperform by the brokerage firm. Analysts have assigned AbCellera Biologics Inc. (ABCL) an Buy rating. ABCL is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 9 others recommend it as a buy.
What is ABCL’s price target for the next 12 months?
The current consensus forecast for the stock is between $13.00 and $34.00, with a median target price of $26.00. In analyzing these forecasts, the average price target given by analysts for AbCellera Biologics Inc. (ABCL) is $25.38.
