Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.93, read 2026-11-02
Ethical does not pass the values gate
Price11.13 USD
Fair value16.00
Ethical score70.0/100
Value readUndervaluedas of 5 Nov 2026
Our investment reviews on this name
2026-10-25Read Markdown12.24-9.1% to today ✓Accumulation gives way to Markdown with volume flow in agreement
2026-10-02Read Accumulation12.66-12.1% to today Markup gives way to Accumulation after a 142% rise in 13 weeks
2026-07-02Read Markup5.24+112.4% to today ✓First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
AbCellera Biologics Inc. holds its Distribution at $11.13. Consolidating, no directional conviction, held for 2 days.
As held on the ledger · 2026-11-05
Phase
Distribution · caution
Quantitative state
Consolidating, no directional conviction, held for 2 days
Price at the screen
$11.13
Valuation
N/A trailing · -16.10 forward price to earnings
Values screen
FAIL· score 70.0
Beta
1.59
The Workings
Five Screens, Shown in Full
Does not pass. Revenue purity
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
10.55%
Below 33%
Interest-bearing debt is just 10.6% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
29.87%
Below 33%
Cash held in interest-bearing accounts and securities is 29.9% of assets, under the one-third limit.
Pass
Receivables
13.77%
Below 49%
Money owed to the company is 13.8% of assets, under the 49% limit.
Pass
Revenue purity
37.71%
Below 5%
37.7% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
AbCellera Biologics clears the business-activity screen, and its debt is inside the line. Where it falls short is income purity: around 38% of its income right now is interest earned on a large cash position, against a roughly 5% ceiling, so it does not pass. That reflects what it earns today, not the business itself, and it could clear the screen if its operating revenue grows and the interest share falls.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 5 Nov 2026: it trades at roughly a 23% discount to our $16.00 fair value.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. A 30.4% discount to the base estimate.
Where our models see it going: fair-value estimate $16.00, with a range of $9.00 to $24.56, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Antibody platform still deep in the red
Every patient hoping for a new antibody therapy understands the years of trial work before any medicine reaches the clinic. AbCellera has built a discovery engine that delivered 96 percent revenue growth, yet it still posts a negative 182 percent profit margin and negative 15 percent return on equity. We pass because an unknown moat and a negative forward earnings multiple leave too little evidence that the platform converts early promise into durable profits.
The shares sit well below our fair value estimate and analysts rate the stock strongly, but those views rest on future milestones that remain unproven. Ethical screens clear without issue.
Development risk sits at the centre here, with a single Phase 2 asset in vasomotor symptoms and heavy cash burn likely ahead in a capital intensive sector. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it already moves more than the market on an average day; its business and earnings are exposed to Canada and to currency swings; as a biotechnology name, trial and regulatory outcomes can move it sharply either way.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
ABCL trades on Nasdaq (the company is based in Canada). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-01Markdown$12.27+0.2%Entry 12
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 0.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 90% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 70%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (7 analysts) rates it strong buy, with a mean price target of $10.
2026-10-25Markdown · changed$12.24-3.5%Entry 11
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 112% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 70%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (7 analysts) rates it strong buy, with a mean price target of $10. Since the last review it entered the Titan Ethical 500.
2026-10-18Accumulation$12.68-3.6%Entry 10
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 3.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are up 70%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (7 analysts) rates it strong buy, with a mean price target of $10.
2026-10-11Accumulation$13.15+3.9%Entry 9
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 3.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are up 70%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (7 analysts) rates it strong buy, with a mean price target of $10. Since the last review it dropped out of the Titan Ethical 500.
The framework has shifted from markup to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 8.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are up 70%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (7 analysts) rates it strong buy, with a mean price target of $10.
2026-09-19Markup$11.67+12.7%Entry 7
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 12.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are up 70%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (7 analysts) rates it strong buy, with a mean price target of $10.
2026-08-20Markup$10.36+60.2%Entry 6
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 60.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it A. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are up 70%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (7 analysts) rates it strong buy, with a mean price target of $10.
2026-07-20Markup$6.47+23.4%Entry 5
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 23.4% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it A. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are up 70%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (7 analysts) rates it strong buy, with a mean price target of $10.
2026-07-18Markup$5.24+0.0%Entry 4
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it A. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are up 70%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (7 analysts) rates it strong buy, with a mean price target of $10.
2026-07-16Markup$5.24+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it A. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are up 70%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (7 analysts) rates it strong buy, with a mean price target of $10.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
