AbCellera Biologics (NASDAQ:ABCL) Issues Quarterly Earnings Results

AbCellera Biologics (NASDAQ:ABCL) issued its earnings results on Monday. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $8.95 million. During the same period last year, the company posted ($0.10) earnings per share.

AbCellera Biologics Stock Performance

AbCellera Biologics stock opened at $2.72 on Wednesday. AbCellera Biologics has a fifty-two week low of $2.34 and a fifty-two week high of $6.05. The firm has a market capitalization of $801.50 million, a price-to-earnings ratio of -5.04 and a beta of 0.35. The stock’s fifty day moving average is $2.62 and its two-hundred day moving average is $3.06.

Analyst Upgrades and Downgrades

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

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.