Q3 2024 EPS Estimates for AbCellera Biologics Inc. Reduced by Analyst (NASDAQ:ABCL)

AbCellera Biologics Inc. (NASDAQ:ABCL) – Stock analysts at Leerink Partnrs dropped their Q3 2024 earnings per share estimates for shares of AbCellera Biologics in a research report issued to clients and investors on Thursday, July 18th. Leerink Partnrs analyst P. Souda now anticipates that the company will earn ($0.14) per share for the quarter, down from their prior estimate of ($0.13). The consensus estimate for AbCellera Biologics’ current full-year earnings is ($0.60) per share. Leerink Partnrs also issued estimates for AbCellera Biologics’ FY2024 earnings at ($0.57) EPS, Q1 2025 earnings at ($0.15) EPS, Q2 2025 earnings at ($0.15) EPS, Q3 2025 earnings at ($0.15) EPS and FY2025 earnings at ($0.60) EPS.

AbCellera Biologics (NASDAQ:ABCL) last released its earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. AbCellera Biologics had a negative return on equity of 12.61% and a negative net margin of 410.47%. The business had revenue of $9.95 million for the quarter, compared to analyst estimates of $10.73 million. During the same quarter last year, the firm posted ($0.14) earnings per share. The business’s revenue was down 18.4% compared to the same quarter last year.

Separately, KeyCorp reaffirmed an “overweight” rating and set a $5.00 price objective (down previously from $7.00) on shares of AbCellera Biologics in a research report on Thursday, July 11th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $15.83.

AbCellera Biologics Trading Up 3.0 %

Shares of AbCellera Biologics stock opened at $3.10 on Monday. The firm has a market cap of $911.56 million, a P/E ratio of -5.96 and a beta of 0.39. AbCellera Biologics has a 12 month low of $2.65 and a 12 month high of $7.96. The stock’s fifty day moving average price is $3.31 and its 200-day moving average price is $4.22.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ABCL. Intellectus Partners LLC increased its position in shares of AbCellera Biologics by 0.7% in the second quarter. Intellectus Partners LLC now owns 545,533 shares of the company’s stock valued at $1,615,000 after buying an additional 3,750 shares in the last quarter. 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. Nan Fung Group Holdings Ltd boosted its stake in AbCellera Biologics by 307.1% during the first quarter. Nan Fung Group Holdings Ltd now owns 50,971 shares of the company’s stock worth $231,000 after buying an additional 38,450 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in AbCellera Biologics during the first quarter worth $239,000. Finally, Seelaus Asset Management LLC acquired a new position in shares of AbCellera Biologics in the 1st quarter valued at $68,000. 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.