Absci (NASDAQ:ABSI) Given “Buy” Rating at HC Wainwright

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

Separately, Guggenheim reaffirmed a “buy” rating and set a $10.00 price objective on shares of Absci in a research note on Tuesday, December 3rd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Absci has an average rating of “Buy” and an average target price of $8.67.

Absci Stock Performance

Shares of ABSI opened at $3.69 on Friday. Absci has a 12-month low of $2.45 and a 12-month high of $6.72. The stock has a market cap of $423.82 million, a P/E ratio of -3.97 and a beta of 2.02. 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 50-day moving average of $3.60 and a two-hundred day moving average of $3.81.

Absci (NASDAQ:ABSI) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The company had revenue of $1.70 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned ($0.24) earnings per share. As a group, research analysts predict that Absci will post -0.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. FMR LLC boosted its position in shares of 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 acquiring an additional 147,156 shares during the last quarter. Fred Alger Management LLC raised its stake in Absci by 4.3% during the third quarter. Fred Alger Management LLC now owns 7,566,618 shares of the company’s stock worth $28,904,000 after purchasing an additional 309,843 shares during the period. ARK Investment Management LLC boosted its holdings in shares of Absci by 15.1% in the 3rd quarter. ARK Investment Management LLC now owns 6,337,622 shares of the company’s stock valued at $24,210,000 after purchasing an additional 833,734 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Absci by 6.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,933,593 shares of the company’s stock valued at $7,388,000 after buying an additional 123,896 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of Absci by 23.3% during the 2nd quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock valued at $5,648,000 after buying an additional 347,079 shares during the period. Hedge funds and other 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.