13 Best Canadian Penny Stocks to Buy Right Now

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7. AbCellera Biologics Inc. (NASDAQ:ABCL)

Share Price: $3.51

Stock Upside Potential: 90.03%

Number of Hedge Fund Holders: 17

AbCellera Biologics Inc. (NASDAQ:ABCL) is one of the Canadian penny stocks to buy right now. On November 7, Stifel Nicolaus reiterated a Buy rating on AbCellera Biologics Inc. (NASDAQ:ABCL) and set a $7 price target.

The positive stance comes on the heels of the company reporting a wider-than-expected net loss of $57.1 million in its third quarter, compared to a net loss of $51.1 million in the same quarter last year. The wider-than-expected net loss was driven by R&D expenses, which increased to $55 million from $41 million in Q3 of 2024.

Nevertheless, the company generated $9 million in revenue, compared with $6.5 million in the same quarter last year. In addition, the company achieved significant milestones, including the commencement of operations at its new clinical manufacturing facility. It also continues to develop its pipeline with ABCL635 and ABCL575 in Phase 1 clinical trials.

“We ended the quarter with approximately $680 million dollars in available liquidity to execute on our strategy and will continue to prioritize advancing our two lead programs through Phase 1 clinical studies and building our pipeline,” said Carl Hansen, Ph.D., founder and CEO of AbCellera.

AbCellera Biologics Inc. (NASDAQ:ABCL) is a clinical-stage biotechnology company that discovers and develops antibody-based medicines. It uses a technology platform that integrates biology, computation, and engineering to search natural immune systems for antibodies that can be used as drugs to treat diseases like infectious diseases, oncology, and autoimmune disorders.

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