Absci Co. (NASDAQ:ABSI) Given Consensus Rating of "Buy" by Brokerages

Absci Co. (NASDAQ:ABSI - Get Free Report) has been given an average rating of "Buy" by the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $8.50.

ABSI has been the topic of several recent research reports. HC Wainwright restated a "buy" rating and issued a $7.00 price target on shares of Absci in a research report on Wednesday. KeyCorp cut their price objective on shares of Absci from $6.00 to $5.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Guggenheim reaffirmed a "buy" rating and issued a $10.00 target price on shares of Absci in a research report on Tuesday, December 3rd.

Absci Trading Down 11.2 %

ABSI stock traded down $0.36 during trading on Friday, hitting $2.86. The company had a trading volume of 8,287,057 shares, compared to its average volume of 13,020,203. The stock has a market cap of $328.49 million, a price-to-earnings ratio of -3.08 and a beta of 2.04. 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 firm has a 50-day moving average price of $3.21 and a 200-day moving average price of $3.68. Absci has a 12 month low of $2.45 and a 12 month high of $6.72.

Absci (NASDAQ:ABSI - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The firm had revenue of $1.70 million for 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) EPS. As a group, analysts predict that Absci will post -0.9 earnings per share for the current year.

Hedge Funds Weigh In On Absci

A number of hedge funds and other institutional investors have recently bought and sold shares of ABSI. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Absci in the third quarter valued at approximately $53,000. Farther Finance Advisors LLC lifted its holdings in Absci by 119.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company's stock valued at $72,000 after purchasing an additional 10,275 shares during the last quarter. Intech Investment Management LLC bought a new position in Absci during the third quarter worth $86,000. The Manufacturers Life Insurance Company bought a new position in Absci during the second quarter worth $100,000. Finally, Cherry Creek Investment Advisors Inc. acquired a new position in shares of Absci in the third quarter valued at $149,000. Institutional investors own 52.05% of the company's stock.

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.