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

Absci Co. (NASDAQ:ABSI) has received an average recommendation of “Buy” from the six analysts that are currently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $8.67.

Several research firms recently weighed in on ABSI. Guggenheim restated a “buy” rating and set a $10.00 target price on shares of Absci in a research note on Tuesday, December 3rd. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Absci in a research report on Friday.

Absci Trading Up 0.3 %

Shares of NASDAQ:ABSI opened at $3.69 on Monday. The company has a market cap of $423.82 million, a PE ratio of -3.97 and a beta of 2.02. The company’s 50 day moving average is $3.60 and its two-hundred day moving average is $3.81. Absci has a 52 week low of $2.45 and a 52 week 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 posted its earnings results on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The business had revenue of $1.70 million during the quarter, compared to analysts’ expectations 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 period last year, the company earned ($0.24) EPS. Equities analysts predict that Absci will post -0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Absci

Hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. acquired a new position in shares of Absci during the third quarter worth about $191,000. Wilmington Savings Fund Society FSB purchased a new stake in Absci in the 3rd quarter valued at approximately $724,000. Barclays PLC increased its position in Absci by 379.6% during the 3rd quarter. Barclays PLC now owns 131,504 shares of the company’s stock worth $503,000 after purchasing an additional 104,083 shares during the period. Geode Capital Management LLC raised its stake in shares of Absci by 6.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,933,593 shares of the company’s stock worth $7,388,000 after buying an additional 123,896 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Absci by 44.8% in the 3rd quarter. Wellington Management Group LLP now owns 348,854 shares of the company’s stock valued at $1,333,000 after buying an additional 107,980 shares during the period. 52.05% of the stock is owned by institutional investors and hedge funds.

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.