Absci (NASDAQ:ABSI) Given Buy Rating at HC Wainwright

Absci (NASDAQ:ABSI)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They presently have a $7.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 95.53% from the company’s current price.

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

Absci Stock Performance

Shares of ABSI traded down $0.10 during mid-day trading on Friday, reaching $3.58. 912,580 shares of the company’s stock traded hands, compared to its average volume of 1,397,051. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63. The business’s 50-day moving average price is $3.60 and its 200-day moving average price is $3.82. The stock has a market capitalization of $411.20 million, a P/E ratio of -3.94 and a beta of 2.02. Absci has a 12 month low of $2.45 and a 12 month high of $6.72.

Absci (NASDAQ:ABSI) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). The business had revenue of $1.70 million for 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 46.56%. During the same period last year, the business posted ($0.24) earnings per share. Equities analysts predict that Absci will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On Absci

Institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank bought a new position in shares of Absci in the first quarter valued at approximately $31,000. Victory Capital Management Inc. raised its stake in shares of Absci by 5.9% during the third quarter. Victory Capital Management Inc. now owns 150,562 shares of the company’s stock worth $575,000 after buying an additional 8,388 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Absci by 119.5% in the third quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock valued at $72,000 after buying an additional 10,275 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Absci by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 697,849 shares of the company’s stock worth $2,666,000 after acquiring an additional 11,602 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Absci during the 3rd quarter valued at $53,000. Institutional investors 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.