AbCellera Biologics (NASDAQ:ABCL) Releases Earnings Results, Beats Expectations By $0.02 EPS

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

AbCellera Biologics Stock Down 7.7 %

ABCL stock traded down $0.22 during midday trading on Wednesday, reaching $2.63. The stock had a trading volume of 2,466,148 shares, compared to its average volume of 1,497,612. The firm has a market cap of $773.36 million, a price-to-earnings ratio of -5.06 and a beta of 0.39. The business has a fifty day simple moving average of $3.16 and a two-hundred day simple moving average of $4.05. AbCellera Biologics has a twelve month low of $2.57 and a twelve month high of $6.14.

Analysts Set New Price Targets

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