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

AbCellera Biologics (NASDAQ:ABCL) posted its quarterly earnings results on Tuesday. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02, Briefing.com reports. The business had revenue of $7.30 million during the quarter, compared to the consensus estimate of $10.12 million. AbCellera Biologics had a negative return on equity of 12.61% and a negative net margin of 410.47%. AbCellera Biologics’s revenue for the quarter was down 27.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) earnings per share.

AbCellera Biologics Price Performance

ABCL stock traded down $0.22 during trading on Wednesday, reaching $2.63. 2,466,148 shares of the company were exchanged, compared to its average volume of 1,497,612. The company has a market capitalization of $773.36 million, a price-to-earnings ratio of -5.06 and a beta of 0.39. The company has a 50-day moving average of $3.16 and a two-hundred day moving average of $4.05. AbCellera Biologics has a twelve month low of $2.57 and a twelve month high of $6.14.

Analysts Set New Price Targets

Separately, KeyCorp reaffirmed an “overweight” rating and set a $5.00 price target (down previously from $7.00) on shares of AbCellera Biologics in a report on Thursday, July 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $14.20.

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.