Absci (NASDAQ:ABSI) Earns “Buy” Rating from HC Wainwright

Absci (NASDAQ:ABSI)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report issued on Friday,Benzinga reports. They presently have a $7.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 89.45% from the stock’s current price.

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

Absci Trading Up 0.4 %

ABSI opened at $3.70 on Friday. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.01. Absci has a 52 week low of $2.45 and a 52 week high of $6.72. The stock has a market cap of $424.39 million, a PE ratio of -3.97 and a beta of 2.02. The business has a 50 day moving average of $3.60 and a 200-day moving average of $3.82.

Absci (NASDAQ:ABSI) last announced 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 business had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.77 million. Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. During the same quarter last year, the firm posted ($0.24) EPS. Equities research analysts predict that Absci will post -0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Absci

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP lifted its stake in Absci by 23.3% during 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 period. Bank of Montreal Can bought a new position in Absci during the second quarter valued at approximately $527,000. Squarepoint Ops LLC boosted its holdings in Absci by 72.4% in the second quarter. Squarepoint Ops LLC now owns 369,187 shares of the company’s stock worth $1,137,000 after purchasing an additional 155,007 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Absci by 521.0% during the 2nd 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 during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings 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 buying an additional 310,946 shares during the period. 52.05% of the stock is 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.