Bloom Burton Has Negative Estimate for ABCL FY2024 Earnings

AbCellera Biologics Inc. (NASDAQ:ABCL) – Analysts at Bloom Burton dropped their FY2024 earnings per share estimates for AbCellera Biologics in a report released on Tuesday, November 5th. Bloom Burton analyst D. Martin now anticipates that the company will post earnings per share of ($0.54) for the year, down from their prior 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.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). AbCellera Biologics had a negative net margin of 533.32% and a negative return on equity of 15.54%. The business had revenue of $6.51 million during the quarter, compared to the consensus estimate of $8.95 million. During the same period in the prior year, the firm earned ($0.10) EPS.

Several other equities research analysts have also recently weighed in on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $12.00 price objective (down previously from $14.00) on shares of AbCellera Biologics in a research report on Tuesday. Benchmark reiterated a “hold” rating on shares of AbCellera Biologics in a research report on Tuesday.

AbCellera Biologics Stock Performance

NASDAQ:ABCL opened at $2.70 on Friday. AbCellera Biologics has a fifty-two week low of $2.34 and a fifty-two week high of $6.05. The company has a market cap of $795.61 million, a price-to-earnings ratio of -4.46 and a beta of 0.35. The stock has a fifty day moving average price of $2.63 and a 200-day moving average price of $3.05.

Hedge Funds Weigh In On AbCellera Biologics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Intellectus Partners LLC boosted its position in AbCellera Biologics by 0.7% during the 2nd quarter. Intellectus Partners LLC now owns 545,533 shares of the company’s stock worth $1,615,000 after buying an additional 3,750 shares during the period. Resolute Advisors LLC grew its stake in shares of AbCellera Biologics by 7.0% in the third quarter. Resolute Advisors LLC now owns 61,576 shares of the company’s stock worth $160,000 after purchasing an additional 4,050 shares during the last quarter. NBC Securities Inc. increased its holdings in AbCellera Biologics by 56.0% in the third quarter. NBC Securities Inc. now owns 11,420 shares of the company’s stock valued at $29,000 after purchasing an additional 4,100 shares during the period. Arcadia Investment Management Corp MI bought a new position in AbCellera Biologics during the 3rd quarter worth $26,000. Finally, Evergreen Capital Management LLC bought a new stake in shares of AbCellera Biologics in the 2nd quarter valued at about $32,000. Institutional investors own 61.42% of the company’s stock.

About AbCellera Biologics

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.