AbCellera Biologics (NASDAQ:ABCL) Issues Earnings Results

AbCellera Biologics (NASDAQ:ABCL) posted its quarterly earnings results on Monday. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.03), Zacks reports. The business had revenue of $6.51 million during the quarter, compared to analyst estimates of $8.95 million. AbCellera Biologics had a negative net margin of 463.77% and a negative return on equity of 13.40%. During the same period in the prior year, the business earned ($0.10) earnings per share.

AbCellera Biologics Stock Performance

AbCellera Biologics stock traded down $0.17 during trading on Tuesday, hitting $2.72. The company’s stock had a trading volume of 1,136,451 shares, compared to its average volume of 1,619,187. The stock’s fifty day moving average is $2.62 and its 200 day moving average is $3.06. AbCellera Biologics has a 1-year low of $2.34 and a 1-year high of $6.05. The stock has a market capitalization of $801.50 million, a price-to-earnings ratio of -4.69 and a beta of 0.35.

Analysts Set New Price Targets

Several equities research analysts recently commented on ABCL shares. KeyCorp reiterated 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. Benchmark downgraded AbCellera Biologics from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th.

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.