Absci (NASDAQ:ABSI) Stock Rating Reaffirmed by HC Wainwright

Absci (NASDAQ:ABSI)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $4.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 187.77% from the company’s previous close.

Separately, Truist Financial reissued a “buy” rating and issued a $10.00 price objective on shares of Absci in a report on Wednesday, August 16th.

Absci Stock Performance

ABSI opened at $1.39 on Wednesday. The firm’s 50-day moving average price is $1.38 and its 200-day moving average price is $1.60. The company has a market cap of $128.87 million, a P/E ratio of -1.14 and a beta of 1.28. The company has a quick ratio of 5.81, a current ratio of 5.81 and a debt-to-equity ratio of 0.03. Absci has a 52-week low of $1.11 and a 52-week high of $3.63.

Absci (NASDAQ:ABSI) last posted its quarterly earnings data on Monday, August 14th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.03). Absci had a negative return on equity of 36.62% and a negative net margin of 1,305.27%. The company had revenue of $3.37 million for the quarter, compared to analyst estimates of $2.59 million. As a group, equities analysts anticipate that Absci will post -0.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Credit Suisse AG purchased a new position in shares of Absci during the 2nd quarter valued at about $25,000. Barclays PLC raised its position in Absci by 538.2% during the fourth quarter. Barclays PLC now owns 14,251 shares of the company’s stock valued at $29,000 after acquiring an additional 12,018 shares in the last quarter. UBS Group AG lifted its holdings in Absci by 1,314.8% in the fourth quarter. UBS Group AG now owns 14,148 shares of the company’s stock valued at $30,000 after acquiring an additional 13,148 shares during the period. Alliancebernstein L.P. purchased a new stake in Absci in the 4th quarter worth approximately $33,000. Finally, Metropolitan Life Insurance Co NY acquired a new stake in shares of Absci during the 1st quarter worth approximately $33,000. 36.30% of the stock is currently owned by institutional investors and hedge funds.

Absci Company Profile

Absci Corporation operates as a generative AI drug creation company in the United States. Its integrated drug creation platform identifies novel drug targets and creates biotherapeutic candidates. The company was founded in 2011 and is headquartered in Vancouver, Washington.