Absci (NASDAQ:ABSI) Stock Price Up 2.8%

Absci Co. (NASDAQ:ABSIGet Free Report) was up 2.8% during mid-day trading on Tuesday . The company traded as high as $4.83 and last traded at $4.74. Approximately 204,823 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 1,354,012 shares. The stock had previously closed at $4.61.

Analyst Upgrades and Downgrades

Several research analysts have commented on ABSI shares. Scotiabank reissued an “outperform” rating and set a $13.00 price objective on shares of Absci in a report on Monday, March 25th. KeyCorp increased their price target on Absci from $5.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Truist Financial reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Absci in a research note on Tuesday, March 26th. Finally, HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Absci in a research report on Wednesday, May 15th.

Read Our Latest Stock Analysis on ABSI

Absci Stock Down 3.8 %

The company has a debt-to-equity ratio of 0.02, a current ratio of 7.19 and a quick ratio of 7.19. The stock’s fifty day moving average is $5.12 and its 200 day moving average is $4.04.

Absci (NASDAQ:ABSIGet Free Report) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). The company had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $2.50 million. Absci had a negative net margin of 2,042.01% and a negative return on equity of 44.60%. During the same quarter last year, the company earned ($0.26) earnings per share. On average, sell-side analysts forecast that Absci Co. will post -0.8 earnings per share for the current year.

Insider Transactions at Absci

In other news, Director Redmile Group, Llc acquired 222,222 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average cost of $4.50 per share, for a total transaction of $999,999.00. Following the completion of the acquisition, the director now directly owns 8,253,316 shares of the company’s stock, valued at approximately $37,139,922. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.81% of the company’s stock.

Hedge Funds Weigh In On Absci

Large investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Absci in the 4th quarter valued at about $135,000. Dimension Capital Management LLC purchased a new position in Absci in the 3rd quarter worth $28,000. Susquehanna Fundamental Investments LLC acquired a new stake in Absci during the 1st quarter worth about $269,000. D Orazio & Associates Inc. grew its stake in Absci by 27.3% during the 1st quarter. D Orazio & Associates Inc. now owns 28,000 shares of the company’s stock valued at $159,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Absci in the first quarter valued at about $2,390,000. Institutional investors own 52.05% of the company’s stock.

About Absci

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Absci Corporation operates as a data-first generative artificial intelligence (AI) drug creation company in the United States. The company combines AI with scalable wet lab technologies to create biologics for patients. Its integrated drug creation platform is designed to improve upon traditional biologic drug discovery by using AI to simultaneously optimize multiple drug characteristics that may be important to development and therapeutic benefit.

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