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

Absci (NASDAQ:ABSI)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $7.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 117.39% from the stock’s current price.

Separately, Guggenheim restated a “buy” rating and issued a $10.00 price objective on shares of Absci in a report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $8.50.

Absci Price Performance

ABSI stock opened at $3.22 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. The firm has a 50 day moving average price of $3.21 and a 200-day moving average price of $3.68. Absci has a 52-week low of $2.45 and a 52-week high of $6.72. The firm has a market capitalization of $369.84 million, a price-to-earnings ratio of -3.46 and a beta of 2.04.

Absci (NASDAQ:ABSI) last released its earnings results on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). The company had revenue of $1.70 million during the quarter, compared to analysts’ expectations of $1.77 million. Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. During the same period in the prior year, the company posted ($0.24) earnings per share. Equities research analysts forecast that Absci will post -0.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. FMR LLC grew its position in shares of Absci by 1.2% during the third quarter. FMR LLC now owns 12,727,760 shares of the company’s stock worth $48,620,000 after purchasing an additional 147,156 shares in the last quarter. Fred Alger Management LLC lifted its holdings in shares of Absci by 4.3% in the third quarter. Fred Alger Management LLC now owns 7,566,618 shares of the company’s stock worth $28,904,000 after buying an additional 309,843 shares in the last quarter. ARK Investment Management LLC boosted its position in shares of Absci by 15.1% during the third quarter. ARK Investment Management LLC now owns 6,337,622 shares of the company’s stock worth $24,210,000 after acquiring an additional 833,734 shares during the last quarter. Geode Capital Management LLC grew its stake in Absci by 6.8% during the third quarter. Geode Capital Management LLC now owns 1,933,593 shares of the company’s stock valued at $7,388,000 after acquiring an additional 123,896 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in Absci by 23.3% in the 2nd quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock valued at $5,648,000 after acquiring an additional 347,079 shares during the last quarter. 52.05% of the stock is owned by hedge funds and other 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.