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

Absci (NASDAQ:ABSI)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They currently have a $7.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 150.00% from the company’s previous close.

Several other brokerages also recently commented on ABSI. KeyCorp cut their target price on Absci from $6.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Guggenheim restated a “buy” rating and issued a $10.00 price objective on shares of Absci in a research report on Tuesday, December 3rd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Absci presently has an average rating of “Buy” and a consensus target price of $8.50.

Absci Trading Down 2.1 %

NASDAQ ABSI opened at $2.80 on Friday. The company’s 50 day moving average is $3.09 and its 200-day moving average is $3.67. Absci has a 12-month low of $2.45 and a 12-month high of $6.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63.

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

Institutional Trading of Absci

Institutional investors and hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC increased its stake in Absci by 15.1% in the third quarter. ARK Investment Management LLC now owns 6,337,622 shares of the company’s stock valued at $24,210,000 after acquiring an additional 833,734 shares during the last quarter. Marshall Wace LLP increased its position in shares of Absci by 23.3% during the 2nd 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. Fred Alger Management LLC raised its holdings in shares of Absci by 4.3% during the 3rd quarter. Fred Alger Management LLC now owns 7,566,618 shares of the company’s stock valued at $28,904,000 after buying an additional 309,843 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Absci by 521.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 285,764 shares of the company’s stock worth $880,000 after buying an additional 239,747 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Absci in the third quarter worth approximately $724,000. Hedge funds and other institutional investors own 52.05% of the company’s stock.

About Absci

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.