AbCellera Biologics (NASDAQ:ABCL) Announces Earnings Results

AbCellera Biologics (NASDAQ:ABCL) announced its quarterly earnings results on Monday. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03), Zacks reports. The business had revenue of $6.51 million for the quarter, compared to analyst estimates of $8.95 million. AbCellera Biologics had a negative return on equity of 13.40% and a negative net margin of 463.77%. During the same period last year, the firm earned ($0.10) EPS.

AbCellera Biologics Trading Down 5.9 %

AbCellera Biologics stock opened at $2.72 on Wednesday. AbCellera Biologics has a 12 month low of $2.34 and a 12 month high of $6.05. The stock’s 50 day moving average is $2.62 and its 200-day moving average is $3.06. The company has a market capitalization of $801.50 million, a price-to-earnings ratio of -5.04 and a beta of 0.35.

Analyst Ratings Changes

A number of brokerages have weighed in on ABCL. KeyCorp reissued an “overweight” rating and set a $5.00 price target (down previously from $7.00) on shares of AbCellera Biologics in a research report on Thursday, July 11th. Benchmark reaffirmed a “hold” rating on shares of AbCellera Biologics in a research report on Tuesday. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $12.00 target price (down previously from $14.00) on shares of AbCellera Biologics in a research report on Tuesday.

About AbCellera Biologics

AbCellera Biologics Inc builds an engine for antibody drug discovery and development. Its engine discovers antibodies from natural immune responses, which are pre-enriched for antibodies. The company’s preclinical products are ABCL635 for metabolic and endocrine conditions; and ABCL575 for atopic dermatitis.