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

Absci (NASDAQ:ABSI)‘s stock had its “buy” rating reissued by HC Wainwright in a report released on Wednesday,Benzinga reports. They currently have a $7.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 127.27% from the stock’s current price.

ABSI has been the subject of several other research reports. Guggenheim reissued a “buy” rating and issued a $10.00 price target on shares of Absci in a research note on Tuesday, December 3rd. KeyCorp decreased their price target on Absci from $6.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $9.00 price target on shares of Absci in a research note on Wednesday. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $8.57.

Absci Price Performance

Shares of ABSI opened at $3.08 on Wednesday. The company has a market cap of $353.76 million, a P/E ratio of -3.31 and a beta of 2.09. The stock has a fifty day moving average price of $3.87 and a 200 day moving average price of $3.68. 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 12 month low of $2.45 and a 12 month high of $6.72.

Absci (NASDAQ:ABSI) last released its quarterly earnings results on Tuesday, March 18th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. The business had revenue of $0.67 million during the quarter, compared to the consensus estimate of $1.77 million. On average, research analysts forecast that Absci will post -0.89 earnings per share for the current year.

Institutional Investors Weigh In On Absci

Several hedge funds have recently modified their holdings of the stock. Two Sigma Advisers LP lifted its holdings in shares of Absci by 191.9% during the fourth quarter. Two Sigma Advisers LP now owns 676,400 shares of the company’s stock valued at $1,772,000 after purchasing an additional 444,700 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of Absci by 97.2% during the fourth quarter. Two Sigma Investments LP now owns 899,648 shares of the company’s stock valued at $2,357,000 after purchasing an additional 443,410 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Absci by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,800 shares of the company’s stock valued at $120,000 after purchasing an additional 1,976 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Absci by 60.9% during the fourth quarter. Deutsche Bank AG now owns 74,170 shares of the company’s stock valued at $194,000 after purchasing an additional 28,073 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Absci by 18.0% during the 4th quarter. Bank of America Corp DE now owns 88,197 shares of the company’s stock worth $231,000 after acquiring an additional 13,476 shares during the period. 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.