AbCellera Biologics Inc. (NASDAQ:ABCL) Expected to Post Q3 2024 Earnings of ($0.05) Per Share

AbCellera Biologics Inc. (NASDAQ:ABCL) – Research analysts at Bloom Burton raised their Q3 2024 earnings estimates for shares of AbCellera Biologics in a research note issued to investors on Thursday, August 8th. Bloom Burton analyst D. Martin now forecasts that the company will earn ($0.05) per share for the quarter, up from their previous estimate of ($0.14). The consensus estimate for AbCellera Biologics’ current full-year earnings is ($0.60) per share. Bloom Burton also issued estimates for AbCellera Biologics’ Q4 2024 earnings at ($0.05) EPS, FY2024 earnings at ($0.37) EPS, FY2025 earnings at ($0.52) EPS and FY2026 earnings at ($0.55) EPS.

Separately, KeyCorp restated an “overweight” rating and issued a $5.00 target price (down previously from $7.00) on shares of AbCellera Biologics in a research note on Thursday, July 11th. Six analysts have rated the stock with a buy rating, According to MarketBeat, AbCellera Biologics has an average rating of “Buy” and an average target price of $14.20.

AbCellera Biologics Stock Performance

Shares of ABCL opened at $2.67 on Monday. The business’s 50-day moving average is $3.03 and its two-hundred day moving average is $3.96. The company has a market capitalization of $785.12 million, a P/E ratio of -5.13 and a beta of 0.39. AbCellera Biologics has a fifty-two week low of $2.40 and a fifty-two week high of $6.05.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The firm had revenue of $7.30 million for the quarter, compared to analyst estimates of $10.12 million. AbCellera Biologics had a negative net margin of 410.47% and a negative return on equity of 12.61%. The business’s quarterly revenue was down 27.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.11) earnings per share.

Institutional Investors Weigh In On AbCellera Biologics

A number of large investors have recently made changes to their positions in ABCL. Baker BROS. Advisors LP boosted its stake in AbCellera Biologics by 20.1% during the first quarter. Baker BROS. Advisors LP now owns 27,525,640 shares of the company’s stock worth $124,691,000 after buying an additional 4,615,887 shares during the last quarter. Renaissance Technologies LLC grew its position in AbCellera Biologics by 16.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,728,603 shares of the company’s stock valued at $5,117,000 after acquiring an additional 239,000 shares in the last quarter. Intellectus Partners LLC increased its stake in AbCellera Biologics by 1.2% during the fourth quarter. Intellectus Partners LLC now owns 887,283 shares of the company’s stock worth $5,066,000 after purchasing an additional 10,650 shares during the period. Citizens Financial Group Inc. RI purchased a new stake in AbCellera Biologics during the second quarter worth about $923,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in shares of AbCellera Biologics by 104.9% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 308,567 shares of the company’s stock worth $913,000 after purchasing an additional 158,000 shares in the last quarter. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

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.