Bloom Burton Cuts Earnings Estimates for AbCellera Biologics

AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) - Analysts at Bloom Burton lowered their FY2024 EPS estimates for shares of AbCellera Biologics in a report released on Tuesday, November 5th. Bloom Burton analyst D. Martin now expects that the company will earn ($0.54) per share for the year, down from their previous estimate of ($0.37). The consensus estimate for AbCellera Biologics' current full-year earnings is ($0.55) per share. Bloom Burton also issued estimates for AbCellera Biologics' Q4 2024 earnings at ($0.10) EPS and FY2026 earnings at ($0.52) EPS.

Several other analysts have also recently issued reports on ABCL. Stifel Nicolaus restated a "buy" rating and set a $12.00 target price (down from $14.00) on shares of AbCellera Biologics in a research report on Tuesday. KeyCorp reiterated 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. Finally, Benchmark reiterated a "hold" rating on shares of AbCellera Biologics in a report on Tuesday.

AbCellera Biologics Price Performance

Shares of NASDAQ ABCL traded down $0.02 during mid-day trading on Friday, hitting $2.70. 2,160,103 shares of the company's stock traded hands, compared to its average volume of 1,637,812. The company's 50-day moving average is $2.63 and its two-hundred day moving average is $3.05. The company has a market capitalization of $795.61 million, a P/E ratio of -4.46 and a beta of 0.35. AbCellera Biologics has a 1 year low of $2.34 and a 1 year high of $6.05.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The business had revenue of $6.51 million for the quarter, compared to analysts' expectations of $8.95 million. AbCellera Biologics had a negative net margin of 533.32% and a negative return on equity of 15.54%. During the same quarter in the prior year, the company posted ($0.10) earnings per share.

Hedge Funds Weigh In On AbCellera Biologics

Several hedge funds have recently added to or reduced their stakes in ABCL. Mirae Asset Global Investments Co. Ltd. bought a new position in AbCellera Biologics in the 1st quarter worth about $454,000. Renaissance Technologies LLC grew its stake in AbCellera Biologics by 16.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,728,603 shares of the company's stock worth $5,117,000 after acquiring an additional 239,000 shares in the last quarter. Citizens Financial Group Inc. RI bought a new position in AbCellera Biologics in the 2nd quarter worth about $923,000. State Board of Administration of Florida Retirement System bought a new position in AbCellera Biologics in the 1st quarter worth about $239,000. Finally, Headlands Technologies LLC bought a new position in AbCellera Biologics in the 2nd quarter worth about $146,000. 61.42% of the stock is currently owned by institutional investors.

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.