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

AbCellera Biologics (NASDAQ:ABCL) released its quarterly earnings data on Tuesday. The company reported ($0.13) earnings per share for the quarter, beating 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 analyst estimates of $10.12 million. During the same period in the previous year, the business earned ($0.11) EPS. AbCellera Biologics’s revenue was down 27.7% compared to the same quarter last year.

AbCellera Biologics Stock Performance

ABCL traded down $0.22 during trading on Wednesday, reaching $2.63. The stock had a trading volume of 2,998,688 shares, compared to its average volume of 1,501,135. The stock has a market cap of $773.36 million, a PE ratio of -5.06 and a beta of 0.39. AbCellera Biologics has a one year low of $2.56 and a one year high of $6.14. The business has a 50-day moving average of $3.16 and a 200-day moving average of $4.05.

Analyst Upgrades and Downgrades

Separately, KeyCorp reiterated an “overweight” rating and issued a $5.00 price objective (down from $7.00) on shares of AbCellera Biologics in a research note on Thursday, July 11th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus 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.