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

Absci (NASDAQ:ABSI)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $7.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 116.05% from the stock’s previous close.

Separately, Guggenheim reissued a “buy” rating and set a $10.00 price target on shares of Absci in a research report on Tuesday, December 3rd. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $8.67.

Absci Trading Up 5.5 %

Shares of ABSI stock traded up $0.17 on Wednesday, hitting $3.24. The stock had a trading volume of 49,764,319 shares, compared to its average volume of 11,559,543. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.01. Absci has a twelve month low of $2.45 and a twelve month high of $6.72. The company has a fifty day moving average price of $3.24 and a two-hundred day moving average price of $3.69. The firm has a market cap of $372.13 million, a P/E ratio of -3.48 and a beta of 2.04.

Absci (NASDAQ:ABSI) last posted its earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. The business had revenue of $1.70 million during the quarter, compared to analyst estimates of $1.77 million. During the same period in the previous year, the firm posted ($0.24) earnings per share. As a group, analysts forecast that Absci will post -0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Absci

A number of institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Absci by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 49,379 shares of the company’s stock worth $189,000 after buying an additional 6,409 shares in the last quarter. Victory Capital Management Inc. lifted its position in Absci by 5.9% during the third quarter. Victory Capital Management Inc. now owns 150,562 shares of the company’s stock worth $575,000 after purchasing an additional 8,388 shares during the period. Farther Finance Advisors LLC grew its stake in Absci by 119.5% during the third quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock worth $72,000 after buying an additional 10,275 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Absci by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 697,849 shares of the company’s stock valued at $2,666,000 after buying an additional 11,602 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Absci in the 3rd quarter valued at approximately $53,000. 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.