Absci’s (ABSI) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Absci (NASDAQ:ABSI) in a research report released on Friday,Benzinga reports. They currently have a $7.00 price target on the stock.

Separately, Guggenheim reaffirmed a “buy” rating and set a $10.00 price objective on shares of Absci in a research note on Tuesday, December 3rd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Absci currently has a consensus rating of “Buy” and a consensus price target of $8.67.

Absci Stock Performance

Shares of ABSI opened at $3.69 on Friday. The company’s 50 day simple moving average is $3.60 and its 200-day simple moving average is $3.81. Absci has a 12-month low of $2.45 and a 12-month high of $6.72. The firm has a market cap of $423.82 million, a PE ratio of -3.97 and a beta of 2.02. 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 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 return on equity of 46.56% and a negative net margin of 2,321.56%. The business had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $1.77 million. During the same period in the previous year, the business posted ($0.24) earnings per share. As a group, equities analysts predict that Absci will post -0.9 EPS for the current year.

Institutional Investors Weigh In On Absci

A number of institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP boosted its position in shares of Absci by 23.3% during the 2nd quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock worth $5,648,000 after purchasing an additional 347,079 shares in the last quarter. Bank of Montreal Can purchased a new stake in Absci during the second quarter worth about $527,000. Squarepoint Ops LLC grew its position in Absci by 72.4% during the second quarter. Squarepoint Ops LLC now owns 369,187 shares of the company’s stock worth $1,137,000 after buying an additional 155,007 shares during the period. Bank of New York Mellon Corp increased its holdings in Absci by 521.0% in the second quarter. Bank of New York Mellon Corp now owns 285,764 shares of the company’s stock valued at $880,000 after buying an additional 239,747 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Absci by 73.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 731,758 shares of the company’s stock valued at $2,254,000 after acquiring an additional 310,946 shares during the period. Hedge funds and other institutional investors 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.