Absci (NASDAQ:ABSI) Releases Quarterly Earnings Results

Absci (NASDAQ:ABSI - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03), Zacks reports. Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. The firm had revenue of $0.67 million for the quarter, compared to analyst estimates of $1.77 million.

Absci Trading Down 1.0 %

ABSI stock traded down $0.03 during midday trading on Friday, hitting $3.01. 3,204,118 shares of the company's stock were exchanged, compared to its average volume of 2,388,526. The stock's fifty day moving average price is $3.86 and its 200-day moving average price is $3.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63. The company has a market cap of $383.28 million, a PE ratio of -3.24 and a beta of 2.09. Absci has a one year low of $2.45 and a one year high of $6.72.

Analyst Ratings Changes

ABSI has been the topic of several recent research reports. KeyCorp reduced their price target on Absci from $6.00 to $5.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Guggenheim restated a "buy" rating and issued a $10.00 price target on shares of Absci in a research report on Thursday. HC Wainwright restated a "buy" rating and issued a $7.00 price target on shares of Absci in a research report on Wednesday. Finally, Needham & Company LLC restated a "buy" rating and issued a $9.00 price target on shares of Absci in a research report on Wednesday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $8.57.

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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.