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

Absci (NASDAQ:ABSI)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They currently have a $7.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 117.39% from the company’s previous close.

Separately, Guggenheim restated a “buy” rating and issued a $10.00 target price on shares of Absci in a research note on Tuesday, December 3rd. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $8.50.

Absci Trading Up 4.9 %

Shares of Absci stock opened at $3.22 on Wednesday. The company’s 50-day moving average price is $3.21 and its 200-day moving average price is $3.68. The company has a market cap of $369.84 million, a price-to-earnings ratio of -3.46 and a beta of 2.04. Absci has a 12-month low of $2.45 and a 12-month high of $6.72. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.01.

Absci (NASDAQ:ABSI) last released 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). Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. The firm had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $1.77 million. During the same quarter last year, the firm earned ($0.24) earnings per share. On average, equities analysts expect that Absci will post -0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Absci

A number of institutional investors have recently made changes to their positions in the business. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Absci in the third quarter worth $53,000. Farther Finance Advisors LLC raised its stake in 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 buying an additional 10,275 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Absci in the third quarter worth about $86,000. The Manufacturers Life Insurance Company bought a new stake in Absci during the 2nd quarter valued at approximately $100,000. Finally, Cherry Creek Investment Advisors Inc. bought a new position in shares of Absci in the 3rd quarter worth approximately $149,000. Hedge funds and other 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.