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

Shares of Absci Co. (NASDAQ:ABSI) have received a consensus rating of “Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $8.67.

Several analysts have weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of Absci in a research report on Wednesday, November 13th. Guggenheim began coverage on shares of Absci in a report on Wednesday, October 2nd. They set a “buy” rating and a $10.00 price objective on the stock.

Absci Stock Up 0.4 %

NASDAQ:ABSI opened at $2.56 on Thursday. The company’s 50-day simple moving average is $3.81 and its 200-day simple moving average is $3.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63. Absci has a fifty-two week low of $1.35 and a fifty-two week high of $6.72. The stock has a market capitalization of $294.04 million, a P/E ratio of -2.75 and a beta of 2.18.

Absci (NASDAQ:ABSI) last announced its earnings results 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 analyst estimates 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 quarter last year, the business earned ($0.24) earnings per share. On average, equities analysts anticipate that Absci will post -0.9 earnings per share for the current fiscal year.

Institutional Trading of Absci

A number of institutional investors and hedge funds have recently made changes to their positions in ABSI. Comerica Bank acquired a new stake in Absci in the 1st quarter valued at $31,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Absci in the third quarter valued at about $53,000. SG Americas Securities LLC purchased a new stake in shares of Absci during the first quarter worth about $63,000. Avantax Advisory Services Inc. acquired a new position in shares of Absci during the 1st quarter worth about $71,000. Finally, Farther Finance Advisors LLC lifted its stake 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 buying an additional 10,275 shares in 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.