Absci Co. (NASDAQ:ABSI) Receives Average Recommendation of "Buy" from Analysts

Absci Co. (NASDAQ:ABSI - Get Free Report) has been given an average recommendation of "Buy" by the six brokerages that are currently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have covered the stock in the last year is $8.67.

Several equities research analysts have recently weighed in on the company. Guggenheim assumed coverage on Absci in a report on Wednesday, October 2nd. They issued a "buy" rating and a $10.00 price objective for the company. HC Wainwright reissued a "buy" rating and issued a $7.00 price objective on shares of Absci in a report on Wednesday, November 13th.

Institutional Investors Weigh In On Absci

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Absci in the first quarter worth $63,000. Avantax Advisory Services Inc. purchased a new stake in Absci during the 1st quarter worth about $71,000. Vanguard Group Inc. increased its position in Absci by 33.7% during the 1st quarter. Vanguard Group Inc. now owns 3,445,272 shares of the company's stock worth $19,569,000 after purchasing an additional 869,131 shares in the last quarter. Affinity Asset Advisors LLC acquired a new stake in Absci in the 1st quarter worth about $5,822,000. Finally, Redmile Group LLC boosted its stake in Absci by 2.8% in the 1st quarter. Redmile Group LLC now owns 8,253,316 shares of the company's stock worth $46,879,000 after buying an additional 222,222 shares during the last quarter. 52.05% of the stock is owned by institutional investors and hedge funds.

Absci Stock Performance

Shares of ABSI opened at $2.68 on Thursday. The stock has a 50 day moving average price of $3.86 and a 200 day moving average price of $4.00. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $307.81 million, a price-to-earnings ratio of -2.88 and a beta of 2.18. Absci has a 52-week low of $1.33 and a 52-week high of $6.72.

Absci (NASDAQ:ABSI - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.05). The business 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 period last year, the company earned ($0.24) earnings per share. Research analysts predict that Absci will post -0.9 EPS for the current fiscal year.

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.