Absci Co. (NASDAQ:ABSI) Given Consensus Rating of “Buy” by Analysts

Absci Co. (NASDAQ:ABSI) has been given an average recommendation of “Buy” by the six ratings firms that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued a report on the stock in the last year is $8.50.

Several equities analysts have recently weighed in on ABSI shares. KeyCorp reduced their price objective on shares of Absci from $6.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Guggenheim restated a “buy” rating and set a $10.00 price objective on shares of Absci in a research report on Tuesday, December 3rd. Finally, HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Absci in a research report on Wednesday, January 8th.

Absci Stock Down 2.1 %

Absci stock opened at $2.80 on Friday. The stock has a market cap of $321.61 million, a price-to-earnings ratio of -3.01 and a beta of 2.04. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $3.12 and its two-hundred day moving average price is $3.68. Absci has a 52 week low of $2.45 and a 52 week high of $6.72.

Absci (NASDAQ:ABSI) last released its earnings results on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The company had revenue of $1.70 million for 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 business posted ($0.24) EPS. On average, analysts expect that Absci will post -0.9 EPS for the current fiscal year.

Institutional Trading of Absci

Several institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its holdings in shares of Absci by 1.2% during the third quarter. FMR LLC now owns 12,727,760 shares of the company’s stock worth $48,620,000 after purchasing an additional 147,156 shares during the period. Fred Alger Management LLC boosted its holdings in shares of Absci by 4.3% during the third quarter. Fred Alger Management LLC now owns 7,566,618 shares of the company’s stock worth $28,904,000 after purchasing an additional 309,843 shares during the period. ARK Investment Management LLC boosted its holdings in shares of Absci by 15.1% during the third quarter. ARK Investment Management LLC now owns 6,337,622 shares of the company’s stock worth $24,210,000 after purchasing an additional 833,734 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Absci by 6.8% during the third quarter. Geode Capital Management LLC now owns 1,933,593 shares of the company’s stock worth $7,388,000 after purchasing an additional 123,896 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of Absci by 23.3% during the second quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock worth $5,648,000 after purchasing an additional 347,079 shares during the period. 52.05% of the stock is currently owned by institutional investors and hedge funds.

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.