AbCellera Biologics (NASDAQ:ABCL) Posts Earnings Results, Beats Expectations By $0.02 EPS

AbCellera Biologics (NASDAQ:ABCL) issued its earnings results on Tuesday. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.02, Briefing.com reports. AbCellera Biologics had a negative net margin of 384.99% and a negative return on equity of 12.36%. The firm had revenue of $9.95 million for the quarter, compared to analysts’ expectations of $10.73 million. During the same quarter last year, the company earned ($0.14) earnings per share. The firm’s revenue was down 18.4% compared to the same quarter last year.

AbCellera Biologics Trading Down 2.2 %

Shares of AbCellera Biologics stock traded down $0.09 during trading on Wednesday, reaching $3.95. The company’s stock had a trading volume of 224,773 shares, compared to its average volume of 1,384,381. The company has a 50-day moving average price of $4.43 and a two-hundred day moving average price of $4.79. AbCellera Biologics has a fifty-two week low of $3.62 and a fifty-two week high of $8.05. The firm has a market cap of $1.16 billion, a PE ratio of -7.77 and a beta of 0.42.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ABCL shares. Stifel Nicolaus dropped their target price on AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Benchmark raised AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a research report on Thursday, February 22nd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $16.00.

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.