AbCellera Biologics Inc (NASDAQ:ABCL) price on Thursday, January 16, fall -0.68% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $2.94.
A look at the stock’s price movement, the close in the last trading session was $2.96, moving within a range at $2.81 and $2.9968. The beta value (5-Year monthly) was 0.351. Turning to its 52-week performance, $5.62 and $2.34 were the 52-week high and 52-week low respectively. Overall, ABCL moved 4.63% over the past month.
AbCellera Biologics Inc’s market cap currently stands at around $868.37 million, with investors looking forward to this quarter’s earnings report slated for in February.
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 Hold. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in Hold 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 -0.42% and 1.54% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 49.70, while 7-day volatility ratio is 7.56% and 6.71% in the 30-day chart. Further, AbCellera Biologics Inc (ABCL) has a beta value of 0.40, and an average true range (ATR) of 0.21. Analysts have given the company’s stock an average 52-week price target of $5, forecast between a low of $5 and high of $5. Looking at the price targets, the low is -70.07% off current price level while to achieve the yearly target high, price needs to move -70.07%. Nonetheless, investors will most likely welcome a -70.07% jump to $5 which is the analysts’ median price.
If we refocus on AbCellera Biologics Inc (NASDAQ:ABCL), historical trading data shows that trading volumes averaged 3.69 over the past 10 days and 2.71 million over the past 3 months. The company’s latest data on shares outstanding shows there are 295.16 million shares.
The 24.86% of AbCellera Biologics Inc’s shares are in the hands of company insiders while institutional holders own 34.56% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 16.57 million on 2024-12-31, giving us a short ratio of 6.36. The data shows that as of 2024-12-31 short interest in AbCellera Biologics Inc (ABCL) stood at 729.0000000000001 of shares outstanding, with shares short rising to 16.25 million registered in 2024-11-29. Current price change has pushed the stock 0.34% 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.
