AbCellera Biologics (NASDAQ:ABCL) Issues Earnings Results

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

AbCellera Biologics Price Performance

ABCL traded up $0.01 on Monday, reaching $5.25. 11,883,267 shares of the company’s stock were exchanged, compared to its average volume of 4,781,511. AbCellera Biologics has a twelve month low of $1.94 and a twelve month high of $6.51. The stock has a market cap of $1.60 billion, a PE ratio of -10.71 and a beta of 1.02. The stock’s fifty day moving average price is $3.70 and its 200-day moving average price is $3.84.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Engineers Gate Manager LP purchased a new stake in shares of AbCellera Biologics in the fourth quarter valued at approximately $38,000. Magnetar Financial LLC acquired a new stake in shares of AbCellera Biologics in the fourth quarter valued at approximately $49,000. Lantern Wealth Advisors LLC purchased a new position in AbCellera Biologics during the second quarter worth approximately $51,000. Oxford Asset Management LLP acquired a new position in AbCellera Biologics during the fourth quarter worth $51,000. Finally, Invesco Ltd. grew its holdings in AbCellera Biologics by 114.6% in the 1st quarter. Invesco Ltd. now owns 24,146 shares of the company’s stock valued at $54,000 after buying an additional 12,893 shares in the last quarter. 61.42% of the stock is currently owned by institutional investors and hedge funds.

About AbCellera Biologics

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.