Bloom Burton Has Negative Outlook for ABCL FY2024 Earnings

AbCellera Biologics Inc. (NASDAQ:ABCL) – Stock analysts at Bloom Burton reduced their FY2024 earnings per share estimates for shares of AbCellera Biologics in a report issued 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 issued its earnings results 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). The company had revenue of $6.51 million for the quarter, compared to analysts’ expectations of $8.95 million. AbCellera Biologics had a negative net margin of 533.32% and a negative return on equity of 15.54%. During the same period in the prior year, the firm posted ($0.10) earnings per share.

Several other analysts also recently weighed in on ABCL. Stifel Nicolaus reaffirmed a “buy” rating and set a $12.00 price target (down previously from $14.00) on shares of AbCellera Biologics in a research note on Tuesday. KeyCorp reaffirmed an “overweight” rating and set a $5.00 target price (down from $7.00) on shares of AbCellera Biologics in a research report on Thursday, July 11th. Finally, Benchmark reissued a “hold” rating on shares of AbCellera Biologics in a research report on Tuesday.

AbCellera Biologics Price Performance

AbCellera Biologics stock opened at $2.72 on Friday. The firm has a 50-day moving average of $2.63 and a two-hundred day moving average of $3.05. AbCellera Biologics has a 1 year low of $2.34 and a 1 year high of $6.05.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Intellectus Partners LLC grew its holdings in AbCellera Biologics by 0.7% in the second quarter. Intellectus Partners LLC now owns 545,533 shares of the company’s stock worth $1,615,000 after purchasing an additional 3,750 shares during the last quarter. Resolute Advisors LLC grew its stake in AbCellera Biologics by 7.0% during the 3rd quarter. Resolute Advisors LLC now owns 61,576 shares of the company’s stock worth $160,000 after buying an additional 4,050 shares during the last quarter. NBC Securities Inc. increased its position in AbCellera Biologics by 56.0% during the 3rd quarter. NBC Securities Inc. now owns 11,420 shares of the company’s stock valued at $29,000 after buying an additional 4,100 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in AbCellera Biologics during the 3rd quarter valued at about $26,000. Finally, Evergreen Capital Management LLC purchased a new stake in AbCellera Biologics in the second 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.