Abcellera Biologics Inc (ABCL) said after close Thursday that it lost $0.1 per share in quarter three 2023.
On the revenue line, the company reported $6.6 million, missing estimates by $5.3 million.
In the same quarter a year ago, the company earned $0.08 per share on revenue of $101.4 million.
The stock is up 2.03% to $4.54 after the report.
Abcellera Biologics Inc's profit margins took a hit as earnings fell at a faster pace than revenues.
The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.
Trading in the five days leading up to the report earned Abcellera Biologics Inc a Bullish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 35. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.
AbCellera Biologics Inc is a biotechnology company. It develops antibodies to treat infectious diseases and various other types of diseases. The company's AI-powered technology sources, searches, decodes and analyzes antibody responses to engineer new antibody drug candidates for its partners.
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Abcellera Biologics Inc Up 2.03% To $4.54 After Earnings Beat
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