Absci (NASDAQ:ABSI) Earns “Buy” Rating from Guggenheim

Absci (NASDAQ:ABSI)‘s stock had its “buy” rating reiterated by research analysts at Guggenheim in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $10.00 target price on the stock. Guggenheim’s target price would suggest a potential upside of 235.57% from the company’s current price.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Absci in a research report on Wednesday, November 13th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $8.67.

Absci Stock Down 5.4 %

Shares of ABSI stock traded down $0.17 during mid-day trading on Tuesday, reaching $2.98. 450,645 shares of the company’s stock traded hands, compared to its average volume of 1,329,576. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $3.69 and its 200-day moving average price is $3.89. The company has a market cap of $342.28 million, a P/E ratio of -3.20 and a beta of 2.03. Absci has a 12 month low of $1.74 and a 12 month high of $6.72.

Absci (NASDAQ:ABSI) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.24) earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $1.77 million. During the same quarter in the previous year, the firm posted ($0.24) EPS. On average, equities analysts expect that Absci will post -0.9 earnings per share for the current fiscal year.

Institutional Trading of Absci

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Comerica Bank bought a new position in Absci in the 1st quarter worth $31,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Absci during the third quarter valued at approximately $53,000. Farther Finance Advisors LLC boosted its position in shares of Absci by 119.5% in the third 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 during the period. Intech Investment Management LLC purchased a new stake in shares of Absci in the third quarter worth $86,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Absci during the 2nd quarter valued at $100,000. 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.