Absci’s (ABSI) “Buy” Rating Reiterated at Guggenheim

Guggenheim reaffirmed their buy rating on shares of Absci (NASDAQ:ABSI) in a research report released on Tuesday, Marketbeat reports. Guggenheim currently has a $10.00 price objective on the stock.

Separately, HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Absci in a research note on Wednesday, November 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Absci has a consensus rating of “Buy” and an average price target of $8.67.

Absci Price Performance

Absci stock opened at $2.99 on Tuesday. The firm has a 50 day moving average price of $3.68 and a 200-day moving average price of $3.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63. Absci has a twelve month low of $1.74 and a twelve month high of $6.72.

Absci (NASDAQ:ABSI) last released its earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). The firm 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 business earned ($0.24) earnings per share. On average, sell-side analysts predict that Absci will post -0.9 EPS for the current year.

Hedge Funds Weigh In On Absci

A number of large investors have recently made changes to their positions in the stock. FMR LLC lifted its holdings in Absci by 1.2% during the 3rd 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 increased its position in shares of Absci by 4.3% during the third quarter. Fred Alger Management LLC now owns 7,566,618 shares of the company’s stock valued at $28,904,000 after buying an additional 309,843 shares during the period. ARK Investment Management LLC lifted its holdings in shares of Absci by 15.1% in the third quarter. ARK Investment Management LLC now owns 6,337,622 shares of the company’s stock worth $24,210,000 after buying an additional 833,734 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Absci by 33.7% in the first quarter. Vanguard Group Inc. now owns 3,445,272 shares of the company’s stock valued at $19,569,000 after acquiring an additional 869,131 shares during the period. Finally, 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. 52.05% of the stock is owned by institutional investors.

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.