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

AbCellera Biologics (NASDAQ:ABCL) released 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. AbCellera Biologics had a negative net margin of 463.77% and a negative return on equity of 13.40%. The firm had revenue of $6.51 million for the quarter, compared to analysts’ expectations of $8.95 million. During the same quarter last year, the firm posted ($0.10) EPS.

AbCellera Biologics Stock Performance

Shares of ABCL traded up $0.04 during midday trading on Wednesday, hitting $2.76. 1,682,483 shares of the company traded hands, compared to its average volume of 1,632,042. AbCellera Biologics has a 52 week low of $2.34 and a 52 week high of $6.05. The firm has a 50 day moving average of $2.63 and a 200-day moving average of $3.05. The stock has a market cap of $813.28 million, a price-to-earnings ratio of -4.52 and a beta of 0.35.

Analyst Upgrades and Downgrades

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