Absci Co. (NASDAQ:ABSI) Receives $8.67 Average Target Price from Analysts

Shares of Absci Co. (NASDAQ:ABSI - Get Free Report) have received a consensus rating of "Buy" from the six brokerages that are covering the company, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $8.67.

ABSI has been the subject of several research analyst reports. Guggenheim reaffirmed a "buy" rating and set a $10.00 target price on shares of Absci in a research note on Tuesday, December 3rd. HC Wainwright restated a "buy" rating and set a $7.00 target price on shares of Absci in a research note on Friday.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ABSI. ARK Investment Management LLC raised its position in Absci by 68.0% in the second quarter. ARK Investment Management LLC now owns 5,503,888 shares of the company's stock worth $16,952,000 after acquiring an additional 2,226,794 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Absci by 23.3% in 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Absci by 73.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 731,758 shares of the company's stock valued at $2,254,000 after purchasing an additional 310,946 shares during the period. Fred Alger Management LLC grew its position in 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 buying an additional 309,843 shares during the period. Finally, Institute for Wealth Management LLC. increased its holdings in Absci by 110.3% in the second quarter. Institute for Wealth Management LLC. now owns 510,902 shares of the company's stock valued at $1,574,000 after buying an additional 268,019 shares in the last quarter. 52.05% of the stock is owned by hedge funds and other institutional investors.

Absci Stock Performance

ABSI traded up $0.14 during trading on Monday, reaching $3.83. 2,541,344 shares of the company's stock were exchanged, compared to its average volume of 1,408,700. Absci has a 1 year low of $2.45 and a 1 year high of $6.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63. The stock has a market capitalization of $439.90 million, a P/E ratio of -4.32 and a beta of 2.02. The company's fifty day simple moving average is $3.60 and its 200-day simple moving average is $3.81.

Absci (NASDAQ:ABSI - Get Free Report) last posted its 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 analysts' expectations of $1.77 million. Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. During the same period in the previous year, the company earned ($0.24) earnings per share. As a group, research analysts predict that Absci will post -0.9 earnings per share for the current fiscal year.

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.