Bloom Burton Predicts Lower Earnings for AbCellera Biologics

AbCellera Biologics Inc. (NASDAQ:ABCL) – Analysts at Bloom Burton reduced their FY2024 EPS estimates for AbCellera Biologics in a research report issued to clients and investors 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 forecast of ($0.37). The consensus estimate for AbCellera Biologics’ current full-year earnings is ($0.56) per share. Bloom Burton also issued estimates for AbCellera Biologics’ Q4 2024 earnings at ($0.10) EPS and FY2026 earnings at ($0.52) EPS.

Several other equities analysts have also issued reports on the company. Stifel Nicolaus restated a “buy” rating and set a $12.00 price target (down from $14.00) on shares of AbCellera Biologics in a research report on Tuesday, November 5th. Benchmark reiterated a “hold” rating on shares of AbCellera Biologics in a report on Tuesday, November 5th.

AbCellera Biologics Trading Down 0.7 %

ABCL opened at $2.70 on Friday. AbCellera Biologics has a 12 month low of $2.34 and a 12 month high of $6.05. The business’s 50-day moving average price is $2.64 and its 200-day moving average price is $3.04.

AbCellera Biologics (NASDAQ:ABCL) last issued its earnings results on Monday, November 4th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). AbCellera Biologics had a negative return on equity of 15.73% and a negative net margin of 533.32%. The business had revenue of $6.51 million during the quarter, compared to analysts’ expectations of $8.95 million. During the same quarter in the previous year, the business earned ($0.10) EPS.

Hedge Funds Weigh In On AbCellera Biologics

Several hedge funds have recently made changes to their positions in ABCL. Mirae Asset Global Investments Co. Ltd. bought a new stake in AbCellera Biologics in the first quarter valued at $454,000. State Board of Administration of Florida Retirement System bought a new position in AbCellera Biologics in the first quarter worth about $239,000. Nan Fung Group Holdings Ltd boosted its position in AbCellera Biologics by 307.1% during the 1st quarter. Nan Fung Group Holdings Ltd now owns 50,971 shares of the company’s stock valued at $231,000 after acquiring an additional 38,450 shares in the last quarter. Baker BROS. Advisors LP grew its holdings in shares of AbCellera Biologics by 20.1% during the 1st quarter. Baker BROS. Advisors LP now owns 27,525,640 shares of the company’s stock worth $124,691,000 after acquiring an additional 4,615,887 shares during the period. Finally, Intellectus Partners LLC raised its position in shares of AbCellera Biologics by 0.7% in the 2nd quarter. Intellectus Partners LLC now owns 545,533 shares of the company’s stock worth $1,615,000 after acquiring an additional 3,750 shares in the last quarter. 61.42% of the stock is owned by hedge funds and other institutional investors.

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.