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

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

AbCellera Biologics Stock Performance

Shares of NASDAQ ABCL opened at $2.76 on Thursday. The company has a market capitalization of $813.28 million, a PE ratio of -4.52 and a beta of 0.35. The company’s fifty day moving average price is $2.63 and its 200 day moving average price is $3.05. AbCellera Biologics has a 1 year low of $2.34 and a 1 year high of $6.05.

Analyst Upgrades and Downgrades

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

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.