Investing

Goldman Sachs Maintains AbCellera Biologics Buy Recommendation

George Maybach

Published: August 5, 2023 10:05 pm

Last Updated: August 7, 2023 12:12 pm

Fintel reports that on August 4, 2023, Goldman Sachs maintained coverage of AbCellera Biologics (NASDAQ:ABCL) with a Buy recommendation.

Analyst Price Forecast Suggests 347.52% Upside

As of August 2, 2023, the average one-year price target for AbCellera Biologics is 27.03. The forecasts range from a low of 15.15 to a high of $39.90. The average price target represents an increase of 347.52% from its latest reported closing price of 6.04.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for AbCellera Biologics is 121MM, a decrease of 16.77%. The projected annual non-GAAP EPS is -0.41.

What is the Fund Sentiment?

There are 331 funds or institutions reporting positions in AbCellera Biologics. This is a decrease of 32 owner(s) or 8.82% in the last quarter. Average portfolio weight of all funds dedicated to ABCL is 0.43%, a decrease of 23.33%. Total shares owned by institutions increased in the last three months by 3.90% to 145,870K shares. The put/call ratio of ABCL is 0.20, indicating a bullish outlook.

What are Other Shareholders Doing?

Baillie Gifford holds 26,365K shares representing 9.13% ownership of the company. In it’s prior filing, the firm reported owning 19,830K shares, representing an increase of 24.79%. The firm increased its portfolio allocation in ABCL by 7.32% over the last quarter.

Voya Investment Management holds 10,838K shares representing 3.75% ownership of the company. In it’s prior filing, the firm reported owning 11,015K shares, representing a decrease of 1.63%. The firm decreased its portfolio allocation in ABCL by 72.20% over the last quarter.

Baker Bros. Advisors holds 10,450K shares representing 3.62% ownership of the company. No change in the last quarter.

Capital World Investors holds 9,327K shares representing 3.23% ownership of the company. No change in the last quarter.

SMCWX – SMALLCAP WORLD FUND INC holds 5,480K shares representing 1.90% ownership of the company. No change in the last quarter.

AbCellera Biologics Background Information
(This description is provided by the company.)

AbCellera is a technology company that searches, decodes, and analyzes natural immune systems to find antibodies that its partners can develop into drugs to prevent and treat disease. AbCellera partners with drug developers of all sizes, from large pharmaceutical to small biotechnology companies, empowering them to move quickly, reduce cost, and tackle the toughest problems in drug development.

This article originally appeared on Fintel