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

AbCellera Biologics (NASDAQ:ABCL) announced its 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 for the quarter, compared to analyst estimates of $8.95 million. During the same period in the previous year, the company earned ($0.10) earnings per share.

AbCellera Biologics Trading Up 1.5 %

ABCL stock opened at $2.76 on Thursday. The firm has a 50-day moving average of $2.63 and a two-hundred day moving average of $3.05. AbCellera Biologics has a 12 month low of $2.34 and a 12 month high of $6.05. The company has a market cap of $813.28 million, a price-to-earnings ratio of -4.52 and a beta of 0.35.

Analyst Upgrades and Downgrades

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