FY2024 Earnings Estimate for Absci Issued By HC Wainwright

Absci Co. (NASDAQ:ABSI) – Equities research analysts at HC Wainwright dropped their FY2024 EPS estimates for Absci in a research report issued on Wednesday, November 13th. HC Wainwright analyst S. Ramakanth now expects that the company will post earnings per share of ($0.93) for the year, down from their previous forecast of ($0.79). HC Wainwright currently has a “Buy” rating and a $7.00 price target on the stock. The consensus estimate for Absci’s current full-year earnings is ($0.80) per share. HC Wainwright also issued estimates for Absci’s Q4 2024 earnings at ($0.25) EPS, Q1 2025 earnings at ($0.19) EPS, Q2 2025 earnings at ($0.20) EPS, Q3 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.20) EPS, FY2025 earnings at ($0.69) EPS, FY2026 earnings at ($0.56) EPS, FY2027 earnings at ($0.25) EPS and FY2028 earnings at $0.22 EPS.

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 the consensus estimate of ($0.19) by ($0.05). The firm had revenue of $1.70 million during the quarter, compared to analysts’ expectations of $1.77 million. Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. During the same period in the previous year, the business earned ($0.24) earnings per share.

Separately, Guggenheim assumed coverage on shares of Absci in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $10.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $8.67.

Absci Stock Down 5.8 %

Absci stock opened at $2.84 on Friday. The firm has a market capitalization of $326.19 million, a price-to-earnings ratio of -3.05 and a beta of 2.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.49 and a current ratio of 5.63. Absci has a fifty-two week low of $1.33 and a fifty-two week high of $6.72. The stock’s fifty day moving average is $3.91 and its two-hundred day moving average is $4.05.

Institutional Trading of Absci

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Absci by 33.7% in the 1st quarter. Vanguard Group Inc. now owns 3,445,272 shares of the company’s stock valued at $19,569,000 after purchasing an additional 869,131 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Absci by 23.3% during the second quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock worth $5,648,000 after buying an additional 347,079 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Absci in the second quarter valued at approximately $527,000. Squarepoint Ops LLC lifted its stake in shares of Absci by 72.4% during the second quarter. Squarepoint Ops LLC now owns 369,187 shares of the company’s stock valued at $1,137,000 after buying an additional 155,007 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Absci by 521.0% during the second quarter. Bank of New York Mellon Corp now owns 285,764 shares of the company’s stock worth $880,000 after acquiring an additional 239,747 shares during the last quarter. 52.05% of the stock is currently owned by hedge funds and other institutional investors.

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.