Absci (NASDAQ:ABSI) Receives “Buy” Rating from HC Wainwright

Absci (NASDAQ:ABSI)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a report released on Wednesday,Benzinga reports. They presently have a $7.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 130.26% from the stock’s previous close.

A number of other research firms also recently weighed in on ABSI. Needham & Company LLC reissued a “buy” rating and set a $9.00 target price on shares of Absci in a report on Wednesday. Guggenheim reissued a “buy” rating and set a $10.00 target price on shares of Absci in a report on Tuesday, December 3rd. Finally, KeyCorp dropped their target price on Absci from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $8.57.

Absci Trading Up 2.0 %

Shares of Absci stock opened at $3.04 on Wednesday. The business has a fifty day simple moving average of $3.86 and a two-hundred day simple moving average of $3.67. Absci has a 1 year low of $2.45 and a 1 year high of $6.72. The company has a market capitalization of $349.16 million, a price-to-earnings ratio of -3.27 and a beta of 2.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63.

Absci (NASDAQ:ABSI) last announced its quarterly earnings results on Tuesday, March 18th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. The business had revenue of $0.67 million for the quarter, compared to analyst estimates of $1.77 million. Research analysts forecast that Absci will post -0.89 EPS for the current year.

Institutional Investors Weigh In On Absci

Several institutional investors and hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Absci by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,800 shares of the company’s stock worth $120,000 after purchasing an additional 1,976 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Absci by 14.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,333 shares of the company’s stock worth $77,000 after purchasing an additional 3,747 shares during the period. Wellington Management Group LLP lifted its position in Absci by 1.1% during the fourth quarter. Wellington Management Group LLP now owns 352,805 shares of the company’s stock worth $924,000 after purchasing an additional 3,951 shares during the period. Rhumbline Advisers lifted its position in Absci by 4.2% during the fourth quarter. Rhumbline Advisers now owns 114,152 shares of the company’s stock worth $299,000 after purchasing an additional 4,593 shares during the period. Finally, Invesco Ltd. lifted its position in Absci by 15.1% during the fourth quarter. Invesco Ltd. now owns 43,535 shares of the company’s stock worth $114,000 after purchasing an additional 5,719 shares during the period. 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.