Absci Co. (NASDAQ:ABSI) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Absci Co. (NASDAQ:ABSI) have been assigned an average rating of “Buy” from the six research firms that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $8.67.

Several equities research analysts recently commented on ABSI shares. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Absci in a research note on Friday, December 13th. Guggenheim reissued a “buy” rating and issued a $10.00 target price on shares of Absci in a research report on Tuesday, December 3rd.

Institutional Investors Weigh In On Absci

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC boosted its stake in Absci by 1.2% in 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 in the last quarter. Fred Alger Management LLC raised 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 valued at $28,904,000 after buying an additional 309,843 shares during the last quarter. ARK Investment Management LLC lifted its position in Absci by 15.1% during the 3rd quarter. ARK Investment Management LLC now owns 6,337,622 shares of the company’s stock worth $24,210,000 after buying an additional 833,734 shares in the last quarter. Geode Capital Management LLC grew its holdings in Absci by 6.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,933,593 shares of the company’s stock worth $7,388,000 after acquiring an additional 123,896 shares during the last quarter. Finally, Marshall Wace LLP increased its position in Absci by 23.3% in the 2nd quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock valued at $5,648,000 after acquiring an additional 347,079 shares in the last quarter. Institutional investors own 52.05% of the company’s stock.

Absci Stock Performance

ABSI stock opened at $2.99 on Monday. The stock has a market cap of $343.42 million, a P/E ratio of -3.22 and a beta of 2.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63. The firm has a 50 day simple moving average of $3.53 and a 200 day simple moving average of $3.78. Absci has a 52 week low of $2.45 and a 52 week high of $6.72.

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

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.