Absci (NASDAQ:ABSI – Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.05), Zacks reports. Absci had a negative net margin of 2,321.56% and a negative return on equity of 45.94%. The firm had revenue of $1.70 million for the quarter, compared to analyst estimates of $1.77 million. During the same period in the previous year, the firm posted ($0.24) EPS.
Absci Stock Down 4.0 %
NASDAQ ABSI traded down $0.12 on Thursday, reaching $3.02. The company had a trading volume of 3,284,570 shares, compared to its average volume of 1,334,200. The firm has a market capitalization of $342.38 million, a price-to-earnings ratio of -3.24 and a beta of 2.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.49 and a current ratio of 6.49. Absci has a 1-year low of $1.29 and a 1-year high of $6.72. The company’s fifty day moving average is $3.94 and its 200-day moving average is $4.07.
Analyst Ratings Changes
A number of analysts recently weighed in on ABSI shares. Guggenheim began coverage on shares of Absci in a research note on Wednesday, October 2nd. They set a “buy” rating and a $10.00 target price on the stock. 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 data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $8.67.
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.
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