Absci’s (ABSI) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Absci (NASDAQ:ABSI) in a research report released on Wednesday,Benzinga reports. The firm currently has a $7.00 price target on the stock.

Separately, Guggenheim reiterated a “buy” rating and set a $10.00 target price on shares of Absci in a research report on Tuesday, December 3rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $8.50.

Absci Stock Performance

Shares of ABSI opened at $3.22 on Wednesday. The firm’s fifty day simple moving average is $3.23 and its two-hundred day simple moving average is $3.68. Absci has a 12 month low of $2.45 and a 12 month high of $6.72. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $369.84 million, a P/E ratio of -3.46 and a beta of 2.04.

Absci (NASDAQ:ABSI) last released its earnings results on Tuesday, November 12th. The company reported ($0.24) EPS 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 for the quarter, compared to analyst estimates of $1.77 million. During the same period in the prior year, the business earned ($0.24) EPS. As a group, analysts predict that Absci will post -0.9 EPS for the current year.

Hedge Funds Weigh In On Absci

Institutional investors have recently modified their holdings of the company. FMR LLC increased its stake in Absci by 1.2% during the 3rd quarter. FMR LLC now owns 12,727,760 shares of the company’s stock valued at $48,620,000 after purchasing an additional 147,156 shares in the last quarter. Fred Alger Management LLC increased its position in shares of Absci by 4.3% during the third quarter. Fred Alger Management LLC now owns 7,566,618 shares of the company’s stock worth $28,904,000 after acquiring an additional 309,843 shares in the last quarter. ARK Investment Management LLC raised its holdings in shares of Absci by 15.1% in the 3rd quarter. ARK Investment Management LLC now owns 6,337,622 shares of the company’s stock worth $24,210,000 after acquiring an additional 833,734 shares during the last quarter. Geode Capital Management LLC lifted its position in Absci by 6.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,933,593 shares of the company’s stock valued at $7,388,000 after acquiring an additional 123,896 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Absci by 23.3% during the 2nd quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock valued at $5,648,000 after purchasing an additional 347,079 shares during the last quarter. 52.05% of the stock is owned by institutional investors and hedge funds.

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.