Absci (NASDAQ:ABSI) Given Buy Rating at HC Wainwright

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

A number of other research analysts have also 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. KeyCorp decreased their price target on shares of Absci from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price target on shares of Absci in a research note on Wednesday. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $8.57.

Absci Stock Down 3.2 %

ABSI opened at $2.98 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63. Absci has a fifty-two week low of $2.45 and a fifty-two week high of $6.72. The firm’s fifty day moving average is $3.87 and its 200 day moving average is $3.68. The stock has a market cap of $342.27 million, a price-to-earnings ratio of -3.20 and a beta of 2.09.

Absci (NASDAQ:ABSI) last released its earnings results on Tuesday, March 18th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. The firm had revenue of $0.67 million for the quarter, compared to analysts’ expectations of $1.77 million. On average, sell-side analysts forecast that Absci will post -0.89 earnings per share for the current fiscal year.

Institutional Trading of Absci

A number of large investors have recently made changes to their positions in ABSI. Victory Capital Management Inc. increased its holdings in shares of Absci by 5.9% in the 3rd quarter. Victory Capital Management Inc. now owns 150,562 shares of the company’s stock worth $575,000 after buying an additional 8,388 shares during the last quarter. King Luther Capital Management Corp bought a new stake in shares of Absci in the 3rd quarter worth about $296,000. Intech Investment Management LLC bought a new stake in shares of Absci in the 3rd quarter worth about $86,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Absci by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 697,849 shares of the company’s stock worth $2,666,000 after buying an additional 11,602 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Absci by 1.2% in the 3rd quarter. FMR LLC now owns 12,727,760 shares of the company’s stock worth $48,620,000 after buying an additional 147,156 shares during the last quarter. 52.05% of the stock is currently owned by institutional investors.

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.