Absci’s (ABSI) Buy Rating Reaffirmed at Guggenheim

Guggenheim reaffirmed their buy rating on shares of Absci (NASDAQ:ABSI) in a research note released on Tuesday morning, Marketbeat Ratings reports. The firm currently has a $10.00 target price on the stock.

Separately, HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of Absci in a report on Wednesday, November 13th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Absci currently has a consensus rating of “Buy” and a consensus target price of $8.67.

Absci Trading Down 5.1 %

Absci stock opened at $2.99 on Tuesday. Absci has a 12-month low of $1.74 and a 12-month high of $6.72. The firm’s fifty day moving average is $3.68 and its 200 day moving average is $3.88. 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 announced 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). The company 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 quarter in the prior year, the company posted ($0.24) EPS. As a group, research analysts predict that Absci will post -0.9 EPS for the current fiscal year.

Institutional Trading of Absci

Several institutional investors and hedge funds have recently made changes to their positions in ABSI. Comerica Bank purchased a new position in Absci during the first quarter worth about $31,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Absci in the 3rd quarter worth approximately $53,000. Farther Finance Advisors LLC grew 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 acquiring an additional 10,275 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Absci in the third quarter valued at approximately $86,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Absci during the second quarter valued at approximately $100,000. 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.