AbCellera Biologics (NASDAQ:ABCL) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

AbCellera Biologics (NASDAQ:ABCL) announced its 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 company had revenue of $6.51 million for the quarter, compared to analysts’ expectations of $8.95 million. AbCellera Biologics had a negative net margin of 463.77% and a negative return on equity of 13.40%. During the same quarter in the prior year, the firm posted ($0.10) earnings per share.

AbCellera Biologics Stock Up 1.5 %

ABCL traded up $0.04 during midday trading on Wednesday, reaching $2.76. The company had a trading volume of 1,682,483 shares, compared to its average volume of 1,632,042. The business has a 50-day moving average of $2.63 and a two-hundred day moving average of $3.05. AbCellera Biologics has a 1 year low of $2.34 and a 1 year high of $6.05. The company has a market cap of $813.28 million, a P/E ratio of -4.52 and a beta of 0.35.

Wall Street Analyst Weigh In

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

AbCellera Biologics Company Profile

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.