AbCellera Biologics (NASDAQ:ABCL) Issues Quarterly Earnings Results

AbCellera Biologics (NASDAQ:ABCL) announced its quarterly earnings results on Monday. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.08, FiscalAI reports. The business had revenue of $8.32 million for the quarter, compared to analysts’ expectations of $5.86 million. AbCellera Biologics had a negative net margin of 198.37% and a negative return on equity of 15.05%.

AbCellera Biologics Price Performance

AbCellera Biologics stock traded up $0.01 during mid-day trading on Monday, reaching $5.25. 11,883,267 shares of the company traded hands, compared to its average volume of 4,781,511. The firm’s fifty day moving average is $3.70 and its two-hundred day moving average is $3.84. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -10.71 and a beta of 1.02. AbCellera Biologics has a fifty-two week low of $1.94 and a fifty-two week high of $6.51.

Institutional Investors Weigh In On AbCellera Biologics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABCL. Voleon Capital Management LP purchased a new stake in shares of AbCellera Biologics in the third quarter worth about $56,000. Engineers Gate Manager LP acquired a new position in AbCellera Biologics in the fourth quarter valued at approximately $38,000. Magnetar Financial LLC acquired a new position in AbCellera Biologics in the fourth quarter valued at approximately $49,000. Oxford Asset Management LLP purchased a new stake in AbCellera Biologics in the 4th quarter worth approximately $51,000. Finally, Lantern Wealth Advisors LLC acquired a new stake in shares of AbCellera Biologics during the 2nd quarter worth approximately $51,000. 61.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ABCL shares. Wall Street Zen raised AbCellera Biologics from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. JonesTrading initiated coverage on AbCellera Biologics in a research report on Friday, April 10th. They issued a “buy” rating and a $11.00 price target for the company. Cantor Fitzgerald started coverage on AbCellera Biologics in a research note on Tuesday, May 5th. They set an “overweight” rating and a $7.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.17.

AbCellera Biologics Company Profile

AbCellera Biologics Inc (NASDAQ: ABCL) is a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s technology platform integrates single-cell screening, microfluidics, high-throughput sequencing and artificial intelligence to rapidly identify and optimize antibody candidates against a wide range of disease targets. By combining experimental data with machine learning, AbCellera accelerates early-stage drug discovery and improves the efficiency of lead candidate selection.

AbCellera primarily operates through partnerships with pharmaceutical and biotechnology firms, offering its antibody discovery services on a fee-for-service and milestone-driven basis.