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

Absci (NASDAQ:ABSI)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $7.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 132.17% from the stock’s current price.

Separately, Guggenheim assumed coverage on shares of Absci in a report on Wednesday, October 2nd. They issued a “buy” rating and a $10.00 target price on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $8.67.

Absci Trading Down 4.0 %

NASDAQ:ABSI opened at $3.02 on Wednesday. The company has a market capitalization of $342.38 million, a PE ratio of -3.24 and a beta of 2.18. The company has a quick ratio of 6.49, a current ratio of 6.49 and a debt-to-equity ratio of 0.01. Absci has a 52-week low of $1.29 and a 52-week high of $6.72. The stock has a fifty day simple moving average of $3.94 and a 200-day simple moving average of $4.07.

Absci (NASDAQ:ABSI) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The firm 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 period last year, the firm earned ($0.24) EPS. On average, equities research analysts expect that Absci will post -0.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABSI. SG Americas Securities LLC purchased a new position in Absci in the 1st quarter valued at about $63,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Absci during the 1st quarter valued at about $269,000. Avantax Advisory Services Inc. acquired a new position in shares of Absci during the 1st quarter valued at about $71,000. Vanguard Group Inc. increased its stake in shares of Absci by 33.7% during the 1st quarter. Vanguard Group Inc. now owns 3,445,272 shares of the company’s stock valued at $19,569,000 after acquiring an additional 869,131 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of Absci during the 1st quarter valued at about $244,000. 52.05% of the stock is currently 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.