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

Absci (NASDAQ:ABSI)‘s stock had its “buy” rating reiterated by investment analysts at Guggenheim in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. They currently have a $10.00 price objective on the stock. Guggenheim’s target price suggests a potential upside of 223.62% from the company’s current price.

Separately, HC Wainwright reissued 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 MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $8.67.

Absci Stock Up 3.3 %

Shares of Absci stock opened at $3.09 on Tuesday. The stock has a market capitalization of $354.92 million, a P/E ratio of -3.29 and a beta of 2.02. 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 stock has a 50 day moving average price of $3.66 and a two-hundred day moving average price of $3.86. Absci has a 12-month low of $1.85 and a 12-month high of $6.72.

Absci (NASDAQ:ABSI) last posted its quarterly earnings data 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). Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. The business had revenue of $1.70 million during the quarter, compared to the consensus estimate of $1.77 million. During the same period in the prior year, the company posted ($0.24) earnings per share. Equities analysts expect that Absci will post -0.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ABSI. Vanguard Group Inc. lifted its position in Absci by 33.7% in the first quarter. Vanguard Group Inc. now owns 3,445,272 shares of the company’s stock worth $19,569,000 after purchasing an additional 869,131 shares during the period. Comerica Bank bought a new position in Absci in the first quarter worth $31,000. Brookstone Capital Management bought a new position in Absci in the second quarter worth $110,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Absci by 73.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 731,758 shares of the company’s stock worth $2,254,000 after acquiring an additional 310,946 shares in the last quarter. Finally, Institute for Wealth Management LLC. raised its stake in Absci by 110.3% during the second quarter. Institute for Wealth Management LLC. now owns 510,902 shares of the company’s stock worth $1,574,000 after acquiring an additional 268,019 shares in the last quarter. 52.05% of the stock is owned by institutional investors.

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.