Absci (NASDAQ:ABSI) Trading Up 9.3%

Absci Co. (NASDAQ:ABSI) was up 9.3% during mid-day trading on Tuesday . The company traded as high as $4.93 and last traded at $4.93. Approximately 177,219 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 1,518,357 shares. The stock had previously closed at $4.51.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ABSI shares. Scotiabank restated an “outperform” rating and issued a $13.00 target price on shares of Absci in a report on Monday, March 25th. KeyCorp lifted their target price on Absci from $5.00 to $8.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Truist Financial restated a “buy” rating and issued a $9.00 target price on shares of Absci in a report on Tuesday, March 26th. Finally, HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Absci in a report on Friday, March 22nd.

Absci Stock Down 3.8 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 4.08 and a quick ratio of 4.08. The firm has a market cap of $510.94 million, a PE ratio of -3.77 and a beta of 2.36. The business has a fifty day moving average price of $5.20 and a two-hundred day moving average price of $3.54.

Absci (NASDAQ:ABSI) last issued its quarterly earnings results on Thursday, March 21st. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). Absci had a negative net margin of 1,933.65% and a negative return on equity of 44.52%. The business had revenue of $0.34 million for the quarter, compared to analysts’ expectations of $1.75 million. On average, analysts anticipate that Absci Co. will post -0.76 EPS for the current fiscal year.

Insider Activity

In other Absci news, Director Redmile Group, Llc purchased 222,222 shares of the stock in a transaction dated Friday, March 1st. The shares were acquired at an average price of $4.50 per share, for a total transaction of $999,999.00. Following the completion of the acquisition, the director now owns 8,253,316 shares of the company’s stock, valued at approximately $37,139,922. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.58% of the stock is currently owned by corporate insiders.

Institutional Trading of Absci

Institutional investors have recently bought and sold shares of the company. Clarius Group LLC acquired a new stake in Absci during the third quarter valued at $40,000. Dimension Capital Management LLC acquired a new stake in Absci during the third quarter valued at $28,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Absci during the 1st quarter worth $2,390,000. Cannon Global Investment Management LLC acquired a new position in Absci during the 1st quarter worth $104,000. Finally, Salem Investment Counselors Inc. acquired a new position in Absci during the 1st quarter worth $122,000. Institutional investors and hedge funds 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.