AbCellera Biologics hits $12.58 as Phase 2 trial results fuel rally

AbCellera Biologics Inc. reached a 52-week high of $12.58 on Thursday, marking a 163.24% increase from its year-ago level and a 241% year-to-date gain, despite second-quarter 2026 earnings falling short of Wall Street projections. The biotech company’s market capitalization stood at $4.04 billion as investors reacted to positive Phase 2 trial results for its lead candidate, ABCL635, a treatment targeting vasomotor symptoms. Truist Securities raised its price target for the stock to $30 from $12, maintaining a Buy rating and projecting peak risk-adjusted sales of $1.1 billion for ABCL635, according to data from InvestingPro. The company also announced a $200 million underwritten public offering of common stock, including pre-funded warrants, which added to its valuation and market interest. However, Q2 2026 results revealed an adjusted loss of $0.18 per share, below analysts’ estimates of a $0.17 loss per share, and revenue of $4.1 million, far short of the $8.1 million projected by Wall Street. Analysts noted that while the Phase 2 trial results were encouraging, the shortfall in earnings underscored ongoing challenges in scaling operations. The stock’s rally reflects growing confidence in its clinical pipeline, particularly ABCL635, but investors remain cautious about the company’s profitability trajectory.