Absci Co. (NASDAQ:ABSI) Receives Consensus Rating of “Buy” from Analysts

Shares of Absci Co. (NASDAQ:ABSI) have received a consensus rating of “Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have covered the stock in the last year is $8.67.

Several brokerages have commented on ABSI. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Absci in a report on Friday. Guggenheim reissued a “buy” rating and issued a $10.00 price target on shares of Absci in a report on Tuesday, December 3rd.

Hedge Funds Weigh In On Absci

Several institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. acquired a new stake in Absci during the 3rd quarter worth approximately $191,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Absci in the third quarter valued at $724,000. Barclays PLC raised its stake in shares of Absci by 379.6% in the third quarter. Barclays PLC now owns 131,504 shares of the company’s stock valued at $503,000 after acquiring an additional 104,083 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Absci by 6.8% in the third quarter. Geode Capital Management LLC now owns 1,933,593 shares of the company’s stock valued at $7,388,000 after purchasing an additional 123,896 shares during the period. Finally, Wellington Management Group LLP grew its stake in Absci by 44.8% during the 3rd quarter. Wellington Management Group LLP now owns 348,854 shares of the company’s stock worth $1,333,000 after purchasing an additional 107,980 shares in the last quarter. 52.05% of the stock is owned by institutional investors and hedge funds.

Absci Price Performance

Shares of ABSI opened at $3.69 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63. The company’s fifty day moving average price is $3.60 and its 200-day moving average price is $3.81. Absci has a 1-year low of $2.45 and a 1-year high of $6.72. The firm has a market capitalization of $423.82 million, a PE ratio of -3.97 and a beta of 2.02.

Absci (NASDAQ:ABSI) last released its quarterly earnings data 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 company had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $1.77 million. During the same quarter in the previous year, the business posted ($0.24) EPS. On average, equities research 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.