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

HC Wainwright reissued their buy rating on shares of Absci (NASDAQ:ABSI) in a research report report published on Wednesday,Benzinga reports. HC Wainwright currently has a $7.00 target price on the stock.

Separately, Guggenheim assumed coverage on shares of Absci in a research note on Wednesday, October 2nd. They set a “buy” rating and a $10.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Absci has a consensus rating of “Buy” and an average target price of $8.67.

Absci Trading Down 13.7 %

ABSI opened at $3.14 on Wednesday. Absci has a 52 week low of $1.28 and a 52 week high of $6.72. The company has a quick ratio of 6.49, a current ratio of 6.49 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $3.96 and a 200-day simple moving average of $4.08. The firm has a market cap of $356.58 million, a P/E ratio of -3.38 and a beta of 2.18.

Absci (NASDAQ:ABSI) last released its earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The firm had revenue of $1.70 million during the quarter, compared to analyst estimates of $1.77 million. Absci had a negative net margin of 2,321.56% and a negative return on equity of 45.94%. During the same period in the prior year, the firm earned ($0.24) earnings per share. On average, equities analysts expect that Absci will post -0.8 earnings per share for the current year.

Institutional Investors Weigh In On Absci

Several institutional investors have recently modified their holdings of the company. FMR LLC raised its stake in Absci by 1.2% in the third quarter. FMR LLC now owns 12,727,760 shares of the company’s stock valued at $48,620,000 after buying an additional 147,156 shares in the last quarter. Redmile Group LLC raised its position in shares of Absci by 2.8% during the 1st quarter. Redmile Group LLC now owns 8,253,316 shares of the company’s stock worth $46,879,000 after acquiring an additional 222,222 shares in the last quarter. ARK Investment Management LLC lifted its stake in Absci by 15.1% during the third quarter. ARK Investment Management LLC now owns 6,337,622 shares of the company’s stock worth $24,210,000 after purchasing an additional 833,734 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Absci by 33.7% in the first quarter. Vanguard Group Inc. now owns 3,445,272 shares of the company’s stock valued at $19,569,000 after purchasing an additional 869,131 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in Absci by 23.3% in the second quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock valued at $5,648,000 after purchasing an additional 347,079 shares during the last quarter. 52.05% of the stock is owned by hedge funds and other institutional investors.

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.