AbCellera Biologics (ABCL) Scheduled to Post Earnings on Tuesday

AbCellera Biologics (NASDAQ:ABCLGet Rating) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, May 10th. Analysts expect the company to announce earnings of $0.38 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

AbCellera Biologics (NASDAQ:ABCLGet Rating) last issued its earnings results on Thursday, February 24th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The business had revenue of $139.30 million for the quarter, compared to analysts’ expectations of $122.05 million. The firm’s revenue for the quarter was down 33.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 EPS. On average, analysts expect AbCellera Biologics to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Shares of NASDAQ:ABCL opened at $8.07 on Tuesday. The firm has a market capitalization of $2.29 billion, a PE ratio of 17.17 and a beta of -1.13. AbCellera Biologics has a twelve month low of $7.29 and a twelve month high of $36.05. The company has a 50-day moving average price of $8.80 and a two-hundred day moving average price of $11.51.

In other AbCellera Biologics news, Director John S. Montalbano purchased 10,000 shares of the firm’s stock in a transaction on Friday, March 4th. The shares were purchased at an average cost of $8.54 per share, with a total value of $85,400.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Veronique Lecault purchased 230,789 shares of the firm’s stock in a transaction on Monday, February 28th. The shares were acquired at an average cost of $8.66 per share, for a total transaction of $1,998,632.74. The disclosure for this purchase can be found here. Insiders purchased 260,789 shares of company stock worth $2,265,033 over the last ninety days. 45.80% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Morgan Stanley raised its stake in shares of AbCellera Biologics by 693.5% during the second quarter. Morgan Stanley now owns 574,193 shares of the company’s stock worth $12,633,000 after acquiring an additional 501,828 shares in the last quarter. Norges Bank purchased a new position in shares of AbCellera Biologics in the fourth quarter worth $4,081,000. Geode Capital Management LLC increased its stake in shares of AbCellera Biologics by 537.5% in the fourth quarter. Geode Capital Management LLC now owns 201,868 shares of the company’s stock worth $2,886,000 after buying an additional 170,204 shares during the period. State Street Corp increased its stake in shares of AbCellera Biologics by 41.7% in the fourth quarter. State Street Corp now owns 179,207 shares of the company’s stock worth $2,563,000 after buying an additional 52,739 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of AbCellera Biologics by 622.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 135,449 shares of the company’s stock worth $1,937,000 after buying an additional 116,704 shares during the period. 39.58% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on the stock. Piper Sandler cut their price objective on shares of AbCellera Biologics from $33.00 to $28.00 in a research report on Friday, February 25th. Zacks Investment Research upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a research report on Monday. Credit Suisse Group raised their price objective on shares of AbCellera Biologics from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, February 25th. Finally, SVB Leerink cut their price objective on shares of AbCellera Biologics from $25.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, February 25th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AbCellera Biologics presently has a consensus rating of “Buy” and a consensus target price of $24.70.

AbCellera Biologics Company Profile (Get Rating)

AbCellera Biologics Inc develops antibody discovery platform. Its full-stack, artificial intelligence-powered antibody discovery platform searches and analyzes the database of natural immune systems to find antibodies that could be developed as drugs. As of December 31, 2021, the company had 156 discovery programs that are either completed, in progress, or under contract with 36 partners.

See Also

Earnings History for AbCellera Biologics (NASDAQ:ABCL)

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