Abcellera Biologics, Inc. (ABCL)
NASDAQ:ABCL
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AbCellera Biologics
(NASDAQ:ABCL)
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Rating:59Neutral
Price Target:
$5.50
▲(37.16% Upside)
Action:Reiterated
Date:05/22/26
ABCL’s score is held back primarily by weak financial performance (large losses and negative cash flow), partly offset by strong technical uptrend signals and a generally positive earnings call that emphasized meaningful near-term clinical catalysts and substantial liquidity. Valuation remains constrained by loss-making fundamentals and no dividend support.
Positive Factors
Integrated antibody discovery platform
AbCellera’s integrated discovery stack (high‑throughput single‑cell screening, microfluidics, computational workflows) is a durable competitive asset. It creates high barriers to entry, drives repeat collaborations, and supports fee, milestone and royalty streams as partners outsource early biologics discovery.
Negative Factors
Negative operating and free cash flow
Sustained negative operating and free cash flow mean the business is not yet self‑funding; continued burn makes the company dependent on its balance sheet and external funding if clinical timelines slip. That dynamic raises dilution and execution risk over the medium term.
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Positive Factors
Negative Factors
Integrated antibody discovery platform
AbCellera’s integrated discovery stack (high‑throughput single‑cell screening, microfluidics, computational workflows) is a durable competitive asset. It creates high barriers to entry, drives repeat collaborations, and supports fee, milestone and royalty streams as partners outsource early biologics discovery.
Read all positive factors
AbCellera Biologics Key Performance Indicators (KPIs)
Any
Number of Discovery Partners
Indicates the breadth of AbCellera's collaborative network, highlighting potential for diverse innovation and revenue streams through partnerships.
Indicates the breadth of AbCellera's collaborative network, highlighting potential for diverse innovation and revenue streams through partnerships.
Data provided by:
The Fly
The FlyAbCellera Biologics (ABCL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.57B
Dividend YieldN/A
Average Volume (3M)8.13M
Price to Earnings (P/E)―
Beta (1Y)1.77
Revenue Growth242.66%
EPS Growth15.53%
CountryUS
Employees596
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.48
Shares Outstanding305,375,400
10 Day Avg. Volume10,048,729
30 Day Avg. Volume8,133,998
Financial Highlights & Ratios
PEG Ratio0.64
Price to Book (P/B)0.90
Price to Sales (P/S)13.60
P/FCF Ratio-5.87
Enterprise Value/Market Cap1.05
Enterprise Value/Revenue20.84
Enterprise Value/Gross Profit26.36
Enterprise Value/Ebitda-9.45
Forecast
1Y Price Target
$9.40Price Target Upside134.41% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-0.59
Revenue Forecast (FY)$33.21M
AbCellera Biologics Business Overview & Revenue Model
Company Description
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 d...
How the Company Makes Money
AbCellera primarily makes money by partnering with pharmaceutical and biotechnology companies to discover and develop therapeutic antibodies. Its revenue model typically includes (1) research fees and reimbursements for antibody discovery and rela...
AbCellera Biologics Earnings Call Summary
Earnings Call Date:May 11, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call conveyed a generally positive clinical and financial picture: compelling interim Phase I data for ABCL635 (favorable tolerability, strong PK/PD and sustained target engagement) with a clear near-term Phase II catalyst (Q3 2026), expanding pipeline progress, and a robust liquidity position (~$655M available including government funding). Headwinds include continued quarterly losses (~$43M), modest current revenue (~$8M) with expected declines in partner-derived research fees, a small potential tolerability signal at the highest dose (900 mg), blinded MAD data limiting full visibility, and remaining scientific/efficacy risk until Phase II readout. Overall, positives (clinical momentum, liquidity, and pipeline cadence) outweigh the negatives, but the company remains dependent on upcoming Phase II and other near-term milestones.Positive Updates
Promising ABCL635 Phase I Interim Data
Unblinded single-ascending-dose data show ABCL635 was generally well tolerated with no serious adverse events, no severe adverse events, no discontinuations and no liver toxicity; overall incidence of any adverse event was 50% in both treatment and pooled placebo groups with the vast majority grade 1.
Negative Updates
Ongoing Net Loss
Net loss for Q1 2026 was roughly $43M (loss per share $0.14) versus a loss of about $46M a year earlier — an improvement but still a significant quarterly loss (≈6.5% reduction in net loss year-over-year).
Read all updates
Q1-2026 Updates
Positive
Negative
Promising ABCL635 Phase I Interim Data
Unblinded single-ascending-dose data show ABCL635 was generally well tolerated with no serious adverse events, no severe adverse events, no discontinuations and no liver toxicity; overall incidence of any adverse event was 50% in both treatment and pooled placebo groups with the vast majority grade 1.
Read all positive updates
Company Guidance
AbCellera's guidance focused on near‑term clinical and financial milestones: a topline Phase II readout for ABCL635 is expected in Q3 2026 and a topline Phase I readout for ABCL575 in Q4 2026, with plans to add at least one new development candidate and select a fifth candidate in H1 2026 and to have up to three additional clinical‑stage programs (including ABCL688 and ABCL386) by end of 2027; commercially, the company said it will prioritize internal programs (research fee revenue expected to trend lower) while remaining well‑funded with approximately $531 million in cash, cash equivalents and marketable securities (including ~$428 million in short‑term securities), roughly $125 million of committed government funding (bringing total available liquidity to about $655 million), Q1 revenue of ~$8 million (vs ~$4M a year earlier), R&D spend of ~ $47 million, SG&A of ~ $12 million (down >35% from ~$19M), an operating cash use of ~$34 million (or ~$3M excluding investments), a net loss of ~ $43 million (loss per share ~$0.14), and the assertion that this runway and secured funding should support at least the next three years of pipeline investment.AbCellera Biologics Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
63
Positive
Cash Flow
31
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 79.21M | 75.13M | 28.83M | 38.02M | 485.42M | 375.20M |
| Gross Profit | 62.63M | 46.31M | 28.83M | 38.02M | 418.99M | 329.69M |
| EBITDA | -174.67M | -188.28M | -204.15M | -192.16M | 260.17M | 239.15M |
| Net Income | -143.96M | -146.41M | -162.86M | -146.40M | 158.52M | 153.46M |
Balance Sheet | ||||||
| Total Assets | 1.31B | 1.36B | 1.36B | 1.49B | 1.54B | 1.32B |
| Cash, Cash Equivalents and Short-Term Investments | 504.73M | 560.33M | 625.61M | 760.59M | 886.49M | 722.98M |
| Total Debt | 140.18M | 143.22M | 65.36M | 77.38M | 82.26M | 40.06M |
| Total Liabilities | 192.92M | 215.59M | 304.47M | 335.78M | 307.63M | 292.84M |
| Stockholders Equity | 938.08M | 1.14B | 1.06B | 1.15B | 1.23B | 1.03B |
Cash Flow | ||||||
| Free Cash Flow | -189.23M | -174.07M | -186.95M | -121.38M | 204.70M | 186.13M |
| Operating Cash Flow | -153.26M | -131.29M | -108.56M | -43.88M | 277.36M | 244.58M |
| Investing Cash Flow | 54.73M | 87.75M | 121.41M | -221.11M | -352.63M | -332.25M |
| Financing Cash Flow | 15.30M | 14.08M | 12.77M | 10.36M | -1.63M | -3.89M |
AbCellera Biologics Technical Analysis
Positive
4.01
Price Trends
3.99
Positive
3.81
Positive
4.15
Positive
Market Momentum
0.22
Negative
63.79
Neutral
64.28
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ABCL, the sentiment is Positive. The current price of 4.01 is below the 20-day moving average (MA) of 4.58, above the 50-day MA of 3.99, and below the 200-day MA of 4.15, indicating a bullish trend. The MACD of 0.22 indicates Negative momentum. The RSI at 63.79 is Neutral, neither overbought nor oversold. The STOCH value of 64.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ABCL.
AbCellera Biologics Risk Analysis
AbCellera Biologics disclosed 99 risk factors in its most recent earnings report. AbCellera Biologics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
AbCellera Biologics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $4.90B | -24.68 | -1.78% | ― | -79.52% | -43.40% | |
59 Neutral | $1.57B | -6.13 | -14.22% | ― | 242.66% | 15.53% | |
56 Neutral | $3.52B | -17.21 | -32.55% | ― | ― | -7.28% | |
55 Neutral | $3.00B | -5.29 | -68.97% | ― | 67.38% | 24.05% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $2.76B | -11.46 | -15.14% | ― | ― | -4.45% | |
49 Neutral | $1.75B | -11.85 | -256.66% | ― | 397.28% | 27.68% |
* Healthcare Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.