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

HC Wainwright reiterated their buy rating on shares of Absci (NASDAQ:ABSI) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $7.00 price objective on the stock.

Separately, Guggenheim reissued a “buy” rating and issued a $10.00 target price on shares of Absci in a report on Tuesday, December 3rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $8.50.

Absci Trading Down 11.2 %

Shares of ABSI opened at $2.86 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 has a 50 day moving average price of $3.19 and a 200-day moving average price of $3.68. The firm has a market cap of $328.49 million, a price-to-earnings ratio of -3.08 and a beta of 2.04.

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. As a group, equities research analysts forecast that Absci will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On Absci

A number of institutional investors have recently added to or reduced their stakes in ABSI. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Absci in the third quarter worth $53,000. Farther Finance Advisors LLC increased its stake in shares of Absci by 119.5% during the third quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock valued at $72,000 after buying an additional 10,275 shares during the period. Intech Investment Management LLC purchased a new position in Absci in the third quarter valued at about $86,000. The Manufacturers Life Insurance Company acquired a new stake in Absci in the second quarter worth about $100,000. Finally, Cherry Creek Investment Advisors Inc. acquired a new stake in shares of Absci during the third quarter worth about $149,000. 52.05% of the stock is owned by hedge funds and other 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.