Absci (NASDAQ:ABSI) Issues Quarterly Earnings Results

Absci (NASDAQ:ABSIGet Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02), Yahoo Finance reports. Absci had a negative return on equity of 42.23% and a negative net margin of 1,933.65%. The firm had revenue of $0.34 million during the quarter, compared to analyst estimates of $1.75 million.

Absci Price Performance

Shares of ABSI opened at $4.95 on Friday. Absci has a 1 year low of $1.11 and a 1 year high of $6.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.82 and a quick ratio of 4.82. The company’s fifty day moving average is $4.55 and its two-hundred day moving average is $2.90.

Insider Transactions at Absci

In other Absci news, Director Redmile Group, Llc purchased 222,222 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average cost of $4.50 per share, for a total transaction of $999,999.00. Following the completion of the purchase, the director now directly owns 8,253,316 shares in the company, valued at $37,139,922. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 11.58% of the company’s stock.

Institutional Investors Weigh In On Absci

Institutional investors have recently modified their holdings of the company. Metropolitan Life Insurance Co NY purchased a new position in Absci during the 1st quarter valued at about $33,000. Ameritas Investment Partners Inc. lifted its holdings in Absci by 305.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,312 shares of the company’s stock valued at $36,000 after purchasing an additional 3,248 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Absci by 91.4% during the first quarter. Royal Bank of Canada now owns 8,916 shares of the company’s stock worth $75,000 after buying an additional 4,258 shares in the last quarter. Two Sigma Advisers LP purchased a new position in shares of Absci during the third quarter valued at approximately $34,000. Finally, Invesco Ltd. purchased a new stake in Absci in the 1st quarter worth approximately $96,000. Hedge funds and other institutional investors own 36.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ABSI shares. Scotiabank assumed coverage on shares of Absci in a research report on Thursday, March 14th. They set a “sector outperform” rating and a $13.00 price objective for the company. Truist Financial restated a “buy” rating and issued a $9.00 price objective on shares of Absci in a report on Wednesday, March 6th. KeyCorp upped their price objective on Absci from $5.00 to $8.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Absci in a research report on Friday.

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Absci Company Profile

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Absci Corporation operates as a generative AI drug creation company in the United States. Its integrated drug creation platform identifies novel drug targets and creates biotherapeutic candidates. The company was founded in 2011 and is headquartered in Vancouver, Washington.

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Earnings History for Absci (NASDAQ:ABSI)

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