Absci Co. (NASDAQ:ABSI) Receives Consensus Recommendation of “Buy” from Analysts

Absci Co. (NASDAQ:ABSI) has been assigned an average rating of “Buy” from the six brokerages that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have covered the stock in the last year is $8.50.

Several analysts have commented on ABSI shares. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Absci in a research note on Wednesday, January 8th. KeyCorp cut 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, Guggenheim reiterated a “buy” rating and issued a $10.00 price objective on shares of Absci in a research report on Tuesday, December 3rd.

Institutional Trading of Absci

A number of institutional investors have recently added to or reduced their stakes in ABSI. PCA Investment Advisory Services Inc. acquired a new stake in shares of Absci during the 4th quarter valued at approximately $26,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Absci in the 3rd quarter valued at approximately $53,000. Farther Finance Advisors LLC raised its holdings in Absci by 119.5% during the third quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock worth $72,000 after purchasing an additional 10,275 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Absci during the third quarter worth $86,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Absci in the second quarter valued at $100,000. Hedge funds and other institutional investors own 52.05% of the company’s stock.

Absci Trading Down 4.9 %

ABSI opened at $2.71 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 business’s 50 day moving average is $3.14 and its two-hundred day moving average is $3.68. The firm has a market cap of $311.26 million, a price-to-earnings ratio of -2.91 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 during the quarter, compared to analyst estimates 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 period in the previous year, the firm earned ($0.24) earnings per share. On average, research analysts predict that Absci will post -0.9 EPS for the current year.

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.