Absci Co. (NASDAQ:ABSI) Receives Consensus Rating of “Buy” from Analysts

Shares of Absci Co. (NASDAQ:ABSI) have received an average recommendation of “Buy” from the six research firms that are currently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $8.67.

ABSI has been the subject of several analyst reports. KeyCorp cut their price target on shares of Absci from $8.00 to $6.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Guggenheim started coverage on Absci in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $10.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Absci in a research report on Thursday, August 15th.

Absci Stock Up 2.1 %

Absci stock opened at $3.92 on Friday. The stock has a market capitalization of $445.16 million, a price-to-earnings ratio of -4.22 and a beta of 2.19. The company has a current ratio of 6.49, a quick ratio of 6.49 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average of $4.02 and a two-hundred day moving average of $4.12. Absci has a twelve month low of $1.18 and a twelve month high of $6.72.

Absci (NASDAQ:ABSI) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). The firm had revenue of $1.27 million during the quarter, compared to analysts’ expectations of $2.05 million. Absci had a negative net margin of 2,838.89% and a negative return on equity of 44.24%. During the same quarter last year, the business earned ($0.27) earnings per share. As a group, research analysts expect that Absci will post -0.8 earnings per share for the current year.

Institutional Trading of Absci

Several large investors have recently bought and sold shares of the company. Comerica Bank acquired a new stake in Absci in the 1st quarter valued at about $31,000. D Orazio & Associates Inc. grew its position in shares of Absci by 27.3% in the first 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. Farther Finance Advisors LLC increased its stake 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 purchasing an additional 10,275 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Absci during the 1st quarter worth approximately $63,000. Finally, Avantax Advisory Services Inc. purchased a new stake in Absci in the 1st quarter valued at approximately $71,000. Institutional investors and hedge funds own 52.05% of the company’s stock.

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.