Absci (NASDAQ:ABSI – Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05), Zacks reports. The business had revenue of $1.70 million for the quarter, compared to analyst estimates of $1.77 million. Absci had a negative return on equity of 45.94% and a negative net margin of 2,321.56%. During the same quarter in the previous year, the business posted ($0.24) earnings per share.
Absci Stock Performance
NASDAQ:ABSI traded down $0.03 on Thursday, reaching $3.11. 424,110 shares of the company’s stock were exchanged, compared to its average volume of 1,321,264. The stock has a fifty day simple moving average of $3.96 and a 200-day simple moving average of $4.08. The firm has a market cap of $353.17 million, a price-to-earnings ratio of -3.38 and a beta of 2.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.49 and a quick ratio of 6.49. Absci has a 52 week low of $1.29 and a 52 week high of $6.72.
Analyst Ratings Changes
ABSI has been the topic of a number of research analyst reports. Guggenheim started coverage on shares of Absci in a research report on Wednesday, October 2nd. They set a “buy” rating and a $10.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Absci in a research note on Wednesday. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $8.67.
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.
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