AbCellera Biologics (NASDAQ:ABCL) Releases Earnings Results

AbCellera Biologics (NASDAQ:ABCL) issued its earnings results on Monday. The company reported ($0.17) 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 company had revenue of $6.51 million during the quarter, compared to analysts’ expectations of $8.95 million. During the same quarter in the previous year, the company earned ($0.10) EPS.

AbCellera Biologics Trading Down 5.9 %

AbCellera Biologics stock traded down $0.17 during midday trading on Tuesday, reaching $2.72. 1,136,451 shares of the stock traded hands, compared to its average volume of 1,619,187. The firm has a market cap of $801.50 million, a PE ratio of -4.69 and a beta of 0.35. The company has a 50-day simple moving average of $2.62 and a two-hundred day simple moving average of $3.06. AbCellera Biologics has a 12-month low of $2.34 and a 12-month high of $6.05.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ABCL. KeyCorp reissued an “overweight” rating and set a $5.00 price target (down from $7.00) on shares of AbCellera Biologics in a report on Thursday, July 11th. Benchmark downgraded shares of AbCellera Biologics from a “buy” rating to a “hold” rating in a 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.