AbCellera Biologics Inc (NASDAQ:ABCL) price on Wednesday, November 13, fall -1.35% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $2.92.
A look at the stock’s price movement, the close in the last trading session was $2.96, moving within a range at $2.9 and $3.09. The beta value (5-Year monthly) was 0.351. Turning to its 52-week performance, $6.05 and $2.34 were the 52-week high and 52-week low respectively. Overall, ABCL moved 14.06% over the past month.
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AbCellera Biologics Inc’s market cap currently stands at around $862.47 million, with investors looking forward to this quarter’s earnings report slated for in December.
Analysts have a consensus estimate of 7.58M for the company’s revenue for the quarter, with a low and high estimate of 4.35M and 11.74M respectively. The average forecast suggests down to a -17.62% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 31.58M, representing a -16.95% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ABCL is a 50% Buy. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
9 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 7 recommend ABCL as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
ABCL’s current price about 4.03% and 9.55% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 55.78, while 7-day volatility ratio is 8.34% and 6.17% in the 30-day chart. Further, AbCellera Biologics Inc (ABCL) has a beta value of 0.39, and an average true range (ATR) of 0.18. Analysts have given the company’s stock an average 52-week price target of $23.5, forecast between a low of $5 and high of $34. Looking at the price targets, the low is -71.23% off current price level while to achieve the yearly target high, price needs to move -1064.38%. Nonetheless, investors will most likely welcome a -704.79% jump to $23.5 which is the analysts’ median price.
If we refocus on AbCellera Biologics Inc (NASDAQ:ABCL), historical trading data shows that trading volumes averaged 2.88 over the past 10 days and 2.10 million over the past 3 months. The company’s latest data on shares outstanding shows there are 290.82 million shares.
The 29.89% of AbCellera Biologics Inc’s shares are in the hands of company insiders while institutional holders own 33.14% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 16.64 million on 2024-10-31, giving us a short ratio of 9.57. The data shows that as of 2024-10-31 short interest in AbCellera Biologics Inc (ABCL) stood at 732.0 of shares outstanding, with shares short falling to 17.06 million registered in 2024-09-30. Current price change has pushed the stock -48.86% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ABCL stock continues to rise going into the next quarter.
