Absci Co. (NASDAQ:ABSI) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Absci Co. (NASDAQ:ABSI) have been given a consensus recommendation of “Buy” by the six analysts that are currently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $8.67.

A number of research firms have recently weighed in on ABSI. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Absci in a research note on Friday, December 13th. Guggenheim reaffirmed a “buy” rating and set a $10.00 price target on shares of Absci in a research report on Tuesday, December 3rd.

Absci Stock Performance

Shares of ABSI opened at $2.99 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63. The stock has a 50-day moving average of $3.53 and a two-hundred day moving average of $3.78. The stock has a market cap of $343.42 million, a P/E ratio of -3.22 and a beta of 2.02. Absci has a one year low of $2.45 and a one year high of $6.72.

Absci (NASDAQ:ABSI) last issued its quarterly 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). Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. The business had revenue of $1.70 million during the quarter, compared to analyst estimates of $1.77 million. During the same quarter last year, the company posted ($0.24) EPS. As a group, research analysts predict that Absci will post -0.9 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its stake in shares of Absci by 23.3% during the 2nd quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock worth $5,648,000 after acquiring an additional 347,079 shares in the last quarter. Bank of Montreal Can acquired a new position in Absci in the 2nd quarter worth about $527,000. Squarepoint Ops LLC boosted its position in Absci by 72.4% during the second quarter. Squarepoint Ops LLC now owns 369,187 shares of the company’s stock worth $1,137,000 after purchasing an additional 155,007 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Absci by 521.0% in the second quarter. Bank of New York Mellon Corp now owns 285,764 shares of the company’s stock valued at $880,000 after purchasing an additional 239,747 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Absci by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 697,849 shares of the company’s stock valued at $2,666,000 after buying an additional 11,602 shares in the last quarter. Hedge funds and other institutional investors 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.