AbCellera Biologics (NASDAQ:ABCL - Get Free Report) released its earnings results on Thursday. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.02, Zacks reports. The firm had revenue of $4.24 million for the quarter, compared to the consensus estimate of $7.12 million. AbCellera Biologics had a negative return on equity of 15.73% and a negative net margin of 533.32%.
AbCellera Biologics Stock Down 1.9%
ABCL stock traded down $0.04 during trading on Wednesday, hitting $2.06. 6,385,586 shares of the company's stock traded hands, compared to its average volume of 2,849,342. The business has a fifty day simple moving average of $2.31 and a two-hundred day simple moving average of $2.73. The firm has a market capitalization of $614.75 million, a P/E ratio of -3.38 and a beta of 0.46. AbCellera Biologics has a 1 year low of $1.89 and a 1 year high of $4.34.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in AbCellera Biologics stock. Invesco Ltd. raised its stake in AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) by 114.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,146 shares of the company's stock after purchasing an additional 12,893 shares during the period. Invesco Ltd.'s holdings in AbCellera Biologics were worth $54,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 61.42% of the company's stock.
Analyst Upgrades and Downgrades
ABCL has been the subject of a number of recent analyst reports. Benchmark restated a "hold" rating on shares of AbCellera Biologics in a report on Monday, March 3rd. Stifel Nicolaus cut their price target on shares of AbCellera Biologics from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Finally, KeyCorp lifted their price objective on shares of AbCellera Biologics from $4.00 to $5.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th.
View Our Latest Analysis on ABCL
About AbCellera Biologics
(
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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.
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