Absci’s (ABSI) Buy Rating Reiterated at HC Wainwright

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

A number of other research analysts have also commented on the company. Guggenheim reiterated a “buy” rating and issued a $10.00 price objective on shares of Absci in a research report on Tuesday, December 3rd. KeyCorp reduced their price target on Absci from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $8.50.

Absci Trading Up 3.6 %

Shares of ABSI opened at $2.90 on Friday. Absci has a 1 year low of $2.45 and a 1 year high of $6.72. 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 stock has a 50 day simple moving average of $3.07 and a 200-day simple moving average of $3.68. The stock has a market cap of $333.09 million, a PE ratio of -3.12 and a beta of 2.04.

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

Hedge Funds Weigh In On Absci

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. PCA Investment Advisory Services Inc. bought a new stake in shares of Absci during the fourth quarter worth approximately $26,000. Alpha Cubed Investments LLC bought a new stake in shares of Absci during the fourth quarter worth approximately $26,000. Ballentine Partners LLC bought a new stake in shares of Absci during the fourth quarter worth approximately $27,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Absci in the third quarter valued at approximately $53,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Absci by 119.5% in the third quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock valued at $72,000 after buying an additional 10,275 shares during the period. Institutional investors own 52.05% of the company’s stock.

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.