Absci’s (ABSI) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Absci (NASDAQ:ABSI) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $7.00 price target on the stock.

Separately, Guggenheim restated a “buy” rating and set a $10.00 target price on shares of Absci in a research note on Tuesday, December 3rd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $8.50.

Absci Stock Up 4.9 %

ABSI stock opened at $3.22 on Wednesday. Absci has a 52 week low of $2.45 and a 52 week high of $6.72. The business has a 50-day simple moving average of $3.23 and a 200 day simple moving average of $3.68. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.01. The company has a market cap of $369.84 million, a PE ratio of -3.46 and a beta of 2.04.

Absci (NASDAQ:ABSI) last issued 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 firm 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 quarter in the previous year, the firm posted ($0.24) earnings per share. Sell-side analysts anticipate that Absci will post -0.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Absci

A number of institutional investors and hedge funds have recently bought and sold shares of the company. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Absci during the third quarter valued at $53,000. Farther Finance Advisors LLC increased its holdings in Absci by 119.5% in the third quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock valued at $72,000 after purchasing an additional 10,275 shares during the period. Intech Investment Management LLC acquired a new stake in Absci in the third quarter valued at $86,000. The Manufacturers Life Insurance Company bought a new position in Absci during the 2nd quarter worth $100,000. Finally, Cherry Creek Investment Advisors Inc. acquired a new position in Absci during the 3rd quarter worth about $149,000. Institutional investors and hedge funds own 52.05% of the company’s stock.

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.