Absci Co. (NASDAQ:ABSI) Given Consensus Rating of “Buy” by Brokerages

Shares of Absci Co. (NASDAQ:ABSI) have been given a consensus rating of “Buy” by the six research firms that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $8.50.

Several research firms have weighed in on ABSI. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Absci in a research note on Wednesday. KeyCorp lowered their target price on Absci from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Guggenheim restated a “buy” rating and issued a $10.00 price objective on shares of Absci in a report on Tuesday, December 3rd.

Absci Price Performance

ABSI stock opened at $3.22 on Friday. The firm has a 50-day moving average of $3.21 and a two-hundred day moving average of $3.68. The firm has a market capitalization of $369.84 million, a PE ratio of -3.46 and a beta of 2.04. 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 has a one year low of $2.45 and a one year high of $6.72.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in Absci by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 49,379 shares of the company’s stock valued at $189,000 after buying an additional 6,409 shares in the last quarter. Victory Capital Management Inc. grew its position in Absci by 5.9% during the 3rd quarter. Victory Capital Management Inc. now owns 150,562 shares of the company’s stock worth $575,000 after acquiring an additional 8,388 shares during the last quarter. Farther Finance Advisors LLC raised its position in Absci by 119.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock valued at $72,000 after purchasing an additional 10,275 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Absci by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 697,849 shares of the company’s stock valued at $2,666,000 after buying an additional 11,602 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in Absci during the 3rd quarter worth about $53,000. Institutional investors and hedge funds 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.