Absci (NASDAQ:ABSI) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Absci (NASDAQ:ABSI) in a report released on Friday,Benzinga reports. They currently have a $7.00 price objective on the stock.

ABSI has been the subject of a number of other reports. Guggenheim restated a “buy” rating and issued a $10.00 price objective on shares of Absci in a report on Tuesday, December 3rd. KeyCorp reduced their target price on Absci from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $8.50.

Absci Trading Up 3.6 %

NASDAQ ABSI opened at $2.90 on Friday. Absci has a 12 month low of $2.45 and a 12 month high of $6.72. 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 stock’s fifty day moving average price is $3.07 and its 200-day moving average price is $3.67. The stock has a market cap of $333.09 million, a P/E ratio of -3.12 and a beta of 2.04.

Absci (NASDAQ:ABSI) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.24) 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 analysts’ expectations 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 last year, the company posted ($0.24) earnings per share. As a group, equities analysts forecast that Absci will post -0.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Absci

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABSI. FMR LLC lifted its holdings in shares of Absci by 1.2% during the 3rd quarter. FMR LLC now owns 12,727,760 shares of the company’s stock valued at $48,620,000 after buying an additional 147,156 shares during the period. Fred Alger Management LLC grew its holdings in shares of Absci by 4.3% in the third quarter. Fred Alger Management LLC now owns 7,566,618 shares of the company’s stock worth $28,904,000 after acquiring an additional 309,843 shares during the period. ARK Investment Management LLC increased its position in Absci by 15.1% during the third quarter. ARK Investment Management LLC now owns 6,337,622 shares of the company’s stock valued at $24,210,000 after acquiring an additional 833,734 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Absci by 6.8% in the third quarter. Geode Capital Management LLC now owns 1,933,593 shares of the company’s stock valued at $7,388,000 after acquiring an additional 123,896 shares during the period. Finally, Marshall Wace LLP boosted its position in Absci by 23.3% in 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 last quarter. Hedge funds and other institutional investors own 52.05% of the company’s stock.

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.