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AbCellera Biologics
(NASDAQ:ABCL)
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Rating:61Neutral
Price Target:
$13.00
▲(4.00% Upside)
Action:Reiterated
Date:09/30/26
ABCL scores as moderate: strong technical momentum and a supportive earnings-call outlook (substantial liquidity, partner funding, and near-term clinical catalysts) are tempered by weak financial performance (large ongoing losses and negative free cash flow) and limited valuation support due to negative earnings and no dividend yield provided.
Positive Factors
Liquidity and runway
AbCellera has substantial liquidity to fund research and clinical development through the next several years. This financial runway reduces immediate reliance on capital markets, supports continued investment in internal programs, and gives management time to pursue value-creating milestones.
Negative Factors
Revenue contraction
The decline in revenue indicates that current partnered-program activity is not yet producing a steadily expanding top line. Lower near-term revenue can make operating costs harder to absorb and increases dependence on future milestones, new collaborations, or successful internal programs.
Read all positive and negative factors
Positive Factors
Negative Factors
Liquidity and runway
AbCellera has substantial liquidity to fund research and clinical development through the next several years. This financial runway reduces immediate reliance on capital markets, supports continued investment in internal programs, and gives management time to pursue value-creating milestones.
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
$4.07B
Dividend YieldN/A
Average Volume (3M)4.87M
Price to Earnings (P/E)―
Beta (1Y)1.90
Revenue Growth101.28%
EPS Growth2.49%
CountryUS
Employees562
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.54
Shares Outstanding324,047,360
10 Day Avg. Volume6,405,650
30 Day Avg. Volume4,872,049
Financial Highlights & Ratios
PEG Ratio0.64
Price to Book (P/B)1.06
Price to Sales (P/S)13.60
P/FCF Ratio-5.87
Enterprise Value/Market Cap0.48
Enterprise Value/Revenue29.76
Enterprise Value/Gross Profit39.70
Enterprise Value/Ebitda-11.65
Forecast
1Y Price Target
$16.63Price Target Upside33.00% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)-0.66
Revenue Forecast (FY)$27.21M
AbCellera Biologics Business Overview & Revenue Model
Company Description
AbCellera Biologics Inc. specializes in pioneering an advanced platform for the discovery of antibodies. This comprehensive, AI-driven system meticulously explores and analyzes natural immune systems to identify antibodies suitable for the creatio...
How the Company Makes Money
AbCellera primarily makes money by providing antibody discovery and early development services through partnered programs with pharmaceutical and biotechnology companies. Under these collaborations, AbCellera can earn: (1) upfront payments when a ...
AbCellera Biologics Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 09, 2026
Earnings Call Sentiment Positive
The call conveys a cautiously optimistic outlook: the company is well capitalized with substantial upfront partnership cash, large potential deal value, and multiple near-term clinical catalysts (notably ABCL635 topline readout and ABCL575 Phase I readout). Those positives are tempered by a sharp year-over-year revenue decline (~-76.5%), a wider net loss (+57.1%), increased R&D spend, and remaining scientific and placebo-related risks for the lead program. On balance, the strong liquidity position and strategic partnerships alongside clear near-term catalysts outweigh the financial pressures and programmatic risks in the short term.Positive Updates
Strong liquidity and runway
Cash and equivalents of $567M at quarter end, plus ~ $110M in available committed government funding, yielding over $675M in available liquidity to execute the strategy and fund at least ~3 years of pipeline investments.
Negative Updates
Sharp quarter-over-quarter revenue decline
Revenue fell to ~$4M in Q2 2026 from ~$17M in Q2 2025, a decline of approximately -76.5%, with current quarter revenue comprised mostly of research fees.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong liquidity and runway
Cash and equivalents of $567M at quarter end, plus ~ $110M in available committed government funding, yielding over $675M in available liquidity to execute the strategy and fund at least ~3 years of pipeline investments.
Read all positive updates
Company Guidance
Management guided that a top‑line readout for ABCL635 (postmenopausal VMS) is expected "very soon" after enrollment and initial dosing completed in June, with the Phase II top‑line reporting 4‑week data only (single dose, no re‑dosing) and they’re targeting a clinically meaningful frequency improvement of roughly 20% vs placebo and ≥2 fewer hot flashes/day; ABCL575 Phase I dosing is complete with a readout on track for Q4 (no plans to develop beyond Phase I), ABCL‑688 and ABCL386 are expected to enter Phase I/II in 2027, and one planned IND‑enabling move in H1 was missed but progress continues. Financial guidance/metrics: Q2 revenue ≈$4M (vs ≈$17M y/y), R&D ≈$46M (up ≈$7M y/y), SG&A ≈$14M (down from $22M), net loss ≈$55M (vs $35M) and loss per share $0.18; cash and marketable securities ≈$565–567M with $420M invested in short‑term securities, roughly $110M of available committed government funding (total available liquidity >$675M including unused government funding), operating cash used ≈$8M in H1 (including $56M upfront from Jazz), YTD capex ≈$6M, $7M in government grants received, and $15M invested in marketable securities this quarter. Strategic deal metrics: recent TCE collaborations bring $28M upfront from Vertex and $84M near‑term from Jazz (total >$110M upfront), $56M of Jazz upfront received to date with another $28M due, potential Jazz downstream payments >$2B and total program deal value >$4B, plus mid‑single to low‑double‑digit tiered royalties; management says liquidity supports at least the next 3 years of pipeline investment.AbCellera Biologics Financial Statement Overview
Summary
Income Statement
26
Negative
Balance Sheet
70
Positive
Cash Flow
32
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 66.17M | 75.13M | 28.83M | 38.02M | 485.42M | 375.20M |
| Gross Profit | 49.60M | 46.31M | 28.83M | 38.02M | 418.99M | 329.69M |
| EBITDA | -168.96M | -148.77M | -204.15M | -192.16M | 260.17M | 239.15M |
| Net Income | -164.66M | -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 | 540.10M | 533.83M | 625.61M | 760.59M | 886.49M | 722.98M |
| Total Debt | 135.62M | 143.22M | 65.36M | 77.38M | 82.26M | 40.06M |
| Total Liabilities | 411.56M | 390.05M | 304.47M | 335.78M | 307.63M | 292.84M |
| Stockholders Equity | 896.02M | 966.90M | 1.06B | 1.15B | 1.23B | 1.03B |
Cash Flow | ||||||
| Free Cash Flow | -179.46M | -174.07M | -186.95M | -121.38M | 204.70M | 186.13M |
| Operating Cash Flow | -154.72M | -131.29M | -108.56M | -43.88M | 277.36M | 244.58M |
| Investing Cash Flow | 97.89M | 87.75M | 121.41M | -221.11M | -352.63M | -332.25M |
| Financing Cash Flow | 32.26M | 14.08M | 12.77M | 10.36M | -1.63M | -3.89M |
AbCellera Biologics Technical Analysis
Neutral
12.50
Price Trends
11.14
Positive
8.58
Positive
6.17
Positive
Market Momentum
0.59
Positive
46.31
Neutral
22.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ABCL, the sentiment is Neutral. The current price of 12.5 is below the 20-day moving average (MA) of 12.81, above the 50-day MA of 11.14, and above the 200-day MA of 6.17, indicating a neutral trend. The MACD of 0.59 indicates Positive momentum. The RSI at 46.31 is Neutral, neither overbought nor oversold. The STOCH value of 22.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 | $4.07B | -23.22 | -17.49% | ― | 101.28% | 2.49% | |
59 Neutral | $1.74B | -12.79 | -59.21% | ― | -62.28% | 15.36% | |
57 Neutral | $1.83B | -11.41 | -28.66% | ― | -28.56% | 10.25% | |
56 Neutral | $2.34B | -4.10 | -50.41% | ― | -15.08% | 41.98% | |
54 Neutral | $1.84B | -12.82 | -72.07% | ― | -69.78% | -106.07% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $1.84B | -13.58 | -108.80% | ― | ― | ― |
* Healthcare Sector Average
ABCL
AbCellera Biologics
12.55
6.88
121.25%
XNCR
Xencor
24.63
10.67
76.43%
ZYME
Zymeworks
25.79
7.68
42.41%
RXRX
Recursion Pharmaceuticals
4.36
-1.17
-21.16%
ABSI
AbSci
10.16
6.50
177.60%
GENB
Generate Biomedicines, Inc.
14.34
1.69
13.36%
AbCellera Biologics Corporate Events
Business Operations and StrategyPrivate Placements and Financing
AbCellera Biologics Announces Oversubscribed $200 Million Offering
Positive
Aug 13, 2026
On August 12, 2026, AbCellera Biologics Inc. priced an oversubscribed underwritten public offering of 17,435,897 common shares at $9.75 each and pre-funded warrants for 3,076,926 common shares at $9.74999 each, for expected gross proceeds of about...
Business Operations and StrategyProduct-Related Announcements
AbCellera to Report Phase 2 Menopause Therapy Data
Positive
Aug 7, 2026
On August 7, 2026, AbCellera announced it will release top-line data from its Phase 2 trial of ABCL635, an investigational non-hormonal antibody treatment for moderate-to-severe vasomotor symptoms due to menopause, before markets open on Monday, A...
Business Operations and Strategy
AbCellera and Vertex launch autoimmune T-cell engager partnership
Positive
Jul 29, 2026
On July 29, 2026, AbCellera Biologics announced a collaboration with Vertex Pharmaceuticals to research, develop, manufacture, and commercialize multispecific T-cell engagers for autoimmune diseases and other conditions. AbCellera will lead discov...
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.