Absci Co. (NASDAQ:ABSI) Receives Consensus Rating of “Buy” from Analysts

Shares of Absci Co. (NASDAQ:ABSI) have received a consensus recommendation of “Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $8.67.

Several equities analysts have recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Absci in a research report on Wednesday, November 13th. Guggenheim began coverage on Absci in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $10.00 price target for the company.

Absci Stock Down 1.5 %

Shares of NASDAQ ABSI opened at $2.68 on Thursday. The firm has a market cap of $307.81 million, a price-to-earnings ratio of -2.88 and a beta of 2.18. 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 stock’s 50-day simple moving average is $3.86 and its 200-day simple moving average is $4.00. Absci has a 1 year low of $1.33 and a 1 year high of $6.72.

Absci (NASDAQ:ABSI) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $1.77 million. During the same quarter in the previous year, the business posted ($0.24) earnings per share. As a group, equities analysts anticipate that Absci will post -0.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Comerica Bank bought a new position in shares of Absci during the first quarter valued at $31,000. SG Americas Securities LLC bought a new stake in shares of Absci during the first quarter valued at approximately $63,000. Avantax Advisory Services Inc. acquired a new position in Absci during the first quarter worth $71,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Absci in the 3rd quarter valued at about $53,000. Finally, Farther Finance Advisors LLC lifted its holdings 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 valued at $72,000 after purchasing an additional 10,275 shares in the last quarter. Institutional investors and hedge funds own 52.05% of the company’s stock.

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.