AbCellera Biologics Inc. (ABCL) shares ended the last trading session 9.3% higher at $10.12. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock’s 11.6% gain over the past four weeks.
Last month, the company announced robust financial results for the first quarter of 2022. This might have been driving the share price rally.
This company is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents a year-over-year change of +1700%. Revenues are expected to be $129.46 million, up 368.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For AbCellera Biologics Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock’s price usually doesn’t keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ABCL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see
the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
AbCellera Biologics Inc. belongs to the Zacks Medical – Biomedical and Genetics industry. Another stock from the same industry, BeiGene, Ltd. (BGNE), closed the last trading session 1.2% lower at $132.14. Over the past month, BGNE has returned 1.6%.
For BeiGene, Ltd.
, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$4.38. This represents a change of +16.3% from what the company reported a year ago. BeiGene, Ltd. currently has a Zacks Rank of #3 (Hold).
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