Absci’s (ABSI) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Absci (NASDAQ:ABSI) in a report issued on Friday morning,Benzinga reports. They currently have a $7.00 target price on the stock.

Separately, Guggenheim restated a “buy” rating and set a $10.00 target price on shares of Absci in a report on Tuesday, December 3rd. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $8.67.

Absci Price Performance

Shares of NASDAQ ABSI opened at $3.70 on Friday. Absci has a fifty-two week low of $2.45 and a fifty-two week high of $6.72. The stock has a market capitalization of $424.41 million, a price-to-earnings ratio of -3.97 and a beta of 2.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63. The business has a 50-day moving average of $3.60 and a 200-day moving average of $3.82.

Absci (NASDAQ:ABSI) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. The company had revenue of $1.70 million during the quarter, compared to the consensus estimate of $1.77 million. During the same quarter in the prior year, the business earned ($0.24) earnings per share. As a group, sell-side analysts predict that Absci will post -0.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Comerica Bank acquired a new stake in Absci during the 1st quarter valued at $31,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Absci during the 3rd quarter worth about $53,000. Farther Finance Advisors LLC boosted its holdings in shares of Absci by 119.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock worth $72,000 after buying an additional 10,275 shares during the period. Intech Investment Management LLC bought a new stake in shares of Absci during the 3rd quarter worth about $86,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Absci in the 2nd quarter valued at about $100,000. 52.05% of the stock is owned by institutional investors and hedge funds.

Absci Company Profile

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.