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

Absci Co. (NASDAQ:ABSI) has been assigned a consensus recommendation of “Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $8.67.

ABSI has been the subject of several recent research reports. Guggenheim reissued a “buy” rating and issued a $10.00 price objective on shares of Absci in a report on Tuesday, December 3rd. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Absci in a research report on Friday, December 13th.

Institutional Investors Weigh In On Absci

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Comerica Bank bought a new position in shares of Absci in the first quarter valued at approximately $31,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Absci in the 3rd quarter worth approximately $53,000. Farther Finance Advisors LLC boosted its holdings in Absci by 119.5% in the 3rd 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 purchased a new position in shares of Absci during the 3rd quarter valued at $86,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Absci in the second quarter worth $100,000. 52.05% of the stock is currently owned by institutional investors.

Absci Stock Down 8.7 %

Absci stock opened at $3.04 on Monday. 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 capitalization of $349.16 million, a P/E ratio of -3.27 and a beta of 2.02. The firm has a 50 day moving average price of $3.57 and a 200-day moving average price of $3.80. Absci has a twelve month low of $2.45 and a twelve month high of $6.72.

Absci (NASDAQ:ABSI) last released 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 return on equity of 46.56% and a negative net margin of 2,321.56%. The firm had revenue of $1.70 million during the quarter, compared to analysts’ expectations of $1.77 million. During the same period in the prior year, the business earned ($0.24) earnings per share. As a group, equities analysts predict that Absci will post -0.9 EPS for the current 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.