Absci Co. (NASDAQ:ABSI) Receives Average Rating of “Buy” from Brokerages

Shares of Absci Co. (NASDAQ:ABSI) have earned an average rating of “Buy” from the six research firms that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $8.50.

A number of equities research analysts have weighed in on ABSI shares. KeyCorp lowered their price objective on Absci from $6.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday. Guggenheim reaffirmed a “buy” rating and issued a $10.00 price target on shares of Absci in a report on Tuesday, December 3rd. Finally, HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Absci in a report on Wednesday.

Hedge Funds Weigh In On Absci

Hedge funds and other institutional investors have recently made changes to their positions in the business. Marshall Wace LLP raised its stake in shares of Absci by 23.3% in the 2nd quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock worth $5,648,000 after buying an additional 347,079 shares in the last quarter. Barclays PLC lifted its holdings in Absci by 379.6% in the 3rd quarter. Barclays PLC now owns 131,504 shares of the company’s stock valued at $503,000 after acquiring an additional 104,083 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Absci during the 2nd quarter valued at about $527,000. Squarepoint Ops LLC grew its stake in shares of Absci by 72.4% in the 2nd quarter. Squarepoint Ops LLC now owns 369,187 shares of the company’s stock worth $1,137,000 after purchasing an additional 155,007 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Absci in the 3rd quarter worth approximately $724,000. 52.05% of the stock is currently owned by institutional investors and hedge funds.

Absci Trading Up 4.9 %

NASDAQ:ABSI opened at $3.22 on Friday. Absci has a 12 month low of $2.45 and a 12 month high of $6.72. The business’s 50-day moving average is $3.21 and its two-hundred day moving average is $3.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63. The firm has a market capitalization of $369.84 million, a PE ratio of -3.46 and a beta of 2.04.

Absci (NASDAQ:ABSI) last issued its quarterly earnings data 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). 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 during the quarter, compared to analyst estimates of $1.77 million. During the same period last year, the business earned ($0.24) EPS. Research analysts predict that Absci will post -0.9 earnings per share for the current fiscal year.

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.