Absci Co. (NASDAQ:ABSI) Receives $8.67 Average PT from Analysts

Absci Co. (NASDAQ:ABSI) has been given an average rating of “Buy” by the six brokerages that are covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued a report on the stock in the last year is $8.67.

ABSI has been the topic of a number of analyst reports. Guggenheim started coverage on shares of Absci in a research note on Wednesday, October 2nd. They set a “buy” rating and a $10.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Absci in a report on Wednesday, November 13th.

Absci Stock Up 10.5 %

Shares of Absci stock opened at $2.83 on Thursday. Absci has a twelve month low of $1.35 and a twelve month high of $6.72. The stock has a market cap of $325.05 million, a price-to-earnings ratio of -3.04 and a beta of 2.18. 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 company has a fifty day moving average price of $3.79 and a 200 day moving average price of $3.94.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Comerica Bank bought a new stake in shares of Absci in the 1st quarter worth about $31,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in Absci in the third quarter worth about $53,000. SG Americas Securities LLC bought a new stake in Absci in the first quarter valued at about $63,000. Avantax Advisory Services Inc. acquired a new stake in Absci during the first quarter valued at approximately $71,000. Finally, Farther Finance Advisors LLC lifted its holdings in Absci by 119.5% during the 3rd 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 during the last quarter. 52.05% of the stock is currently owned by institutional investors.

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.