AbCellera Biologics (NASDAQ:ABCL) Releases Earnings Results

AbCellera Biologics (NASDAQ:ABCL) announced its quarterly earnings data on Wednesday. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.04), FiscalAI reports. The firm had revenue of $4.05 million during the quarter, compared to analyst estimates of $7.85 million. AbCellera Biologics had a negative net margin of 181.75% and a negative return on equity of 14.86%.

AbCellera Biologics Stock Down 2.8%

NASDAQ:ABCL traded down $0.17 during trading hours on Wednesday, reaching $5.92. 4,429,288 shares of the company’s stock were exchanged, compared to its average volume of 5,700,607. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -12.33 and a beta of 1.20. AbCellera Biologics has a 1-year low of $2.74 and a 1-year high of $8.44. The company has a 50-day moving average of $6.18 and a 200 day moving average of $4.64.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Friday, July 17th. Wall Street Zen cut AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Cantor Fitzgerald assumed coverage on shares of AbCellera Biologics in a research report on Tuesday, May 5th. They set an “overweight” rating and a $7.00 price objective for the company. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Tuesday, July 7th. Finally, JonesTrading began coverage on AbCellera Biologics in a report on Friday, April 10th. They set a “buy” rating and a $11.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, AbCellera Biologics has a consensus rating of “Moderate Buy” and an average target price of $8.00.

Hedge Funds Weigh In On AbCellera Biologics

Several institutional investors have recently added to or reduced their stakes in the stock. Creative Planning lifted its position in AbCellera Biologics by 6.9% during the 2nd quarter. Creative Planning now owns 41,003 shares of the company’s stock worth $141,000 after acquiring an additional 2,656 shares during the period. Advisory Services Network LLC increased its holdings in shares of AbCellera Biologics by 12.9% in the fourth quarter. Advisory Services Network LLC now owns 29,664 shares of the company’s stock valued at $101,000 after purchasing an additional 3,386 shares during the period. Raymond James Financial Inc. increased its holdings in shares of AbCellera Biologics by 17.0% in the second quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock valued at $96,000 after purchasing an additional 4,070 shares during the period. Osaic Holdings Inc. raised its stake in shares of AbCellera Biologics by 1.2% during the fourth quarter. Osaic Holdings Inc. now owns 347,321 shares of the company’s stock worth $1,188,000 after purchasing an additional 4,246 shares during the last quarter. Finally, Cibc World Market Inc. raised its stake in shares of AbCellera Biologics by 26.5% during the fourth quarter. Cibc World Market Inc. now owns 20,706 shares of the company’s stock worth $71,000 after purchasing an additional 4,341 shares during the last quarter. Institutional investors and hedge funds own 61.42% of the company’s stock.

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.