AbCellera Biologics (NASDAQ:ABCL) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

AbCellera Biologics (NASDAQ:ABCL) posted its quarterly earnings data on Tuesday. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02, Briefing.com reports. AbCellera Biologics had a negative net margin of 410.47% and a negative return on equity of 12.61%. The business had revenue of $7.30 million during the quarter, compared to the consensus estimate of $10.12 million. During the same quarter last year, the company posted ($0.11) earnings per share. The firm’s quarterly revenue was down 27.7% compared to the same quarter last year.

AbCellera Biologics Price Performance

ABCL traded down $0.21 during midday trading on Wednesday, reaching $2.64. 2,686,177 shares of the company’s stock traded hands, compared to its average volume of 1,499,069. The stock has a market capitalization of $776.30 million, a price-to-earnings ratio of -5.06 and a beta of 0.39. AbCellera Biologics has a 52 week low of $2.57 and a 52 week high of $6.14. The firm has a fifty day moving average of $3.16 and a two-hundred day moving average of $4.05.

Wall Street Analysts Forecast Growth

Separately, KeyCorp reaffirmed an “overweight” rating and set a $5.00 price objective (down from $7.00) on shares of AbCellera Biologics in a report on Thursday, July 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $14.20.

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.