AbCellera Biologics (NASDAQ:ABCL) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) issued its quarterly earnings data on Monday. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.03), Zacks reports. AbCellera Biologics had a negative net margin of 463.77% and a negative return on equity of 13.40%. The business had revenue of $6.51 million for the quarter, compared to analyst estimates of $8.95 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share.

AbCellera Biologics Stock Down 5.9 %

Shares of NASDAQ ABCL traded down $0.17 during trading on Tuesday, reaching $2.72. 3,835,845 shares of the company traded hands, compared to its average volume of 1,631,801. The firm has a 50 day simple moving average of $2.62 and a 200-day simple moving average of $3.06. AbCellera Biologics has a 52-week low of $2.34 and a 52-week high of $6.05. The stock has a market capitalization of $801.50 million, a PE ratio of -5.04 and a beta of 0.35.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ABCL. Benchmark reaffirmed a "hold" rating on shares of AbCellera Biologics in a research report on Tuesday. Stifel Nicolaus reiterated a "buy" rating and set a $12.00 price target (down from $14.00) on shares of AbCellera Biologics in a report on Tuesday. Finally, 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.

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.