Absci (NASDAQ:ABSI) Shares Up 6.8% - Still a Buy?

Shares of Absci Co. (NASDAQ:ABSI - Get Free Report) were up 6.8% on Tuesday . The stock traded as high as $4.36 and last traded at $4.63. Approximately 454,301 shares changed hands during trading, a decline of 93% from the average daily volume of 6,970,379 shares. The stock had previously closed at $4.33.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ABSI shares. HC Wainwright reiterated a "buy" rating and set a $7.00 price target on shares of Absci in a research note on Friday, January 17th. Needham & Company LLC started coverage on Absci in a report on Wednesday, January 22nd. They set a "buy" rating and a $9.00 price objective on the stock. Guggenheim reissued a "buy" rating and set a $10.00 price objective on shares of Absci in a report on Tuesday, December 3rd. Finally, KeyCorp dropped their price objective on Absci from $6.00 to $5.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Absci presently has an average rating of "Buy" and a consensus price target of $8.57.

Absci Stock Performance

The stock has a market cap of $668.49 million, a P/E ratio of -6.26 and a beta of 2.11. 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 business has a 50 day moving average price of $3.50 and a two-hundred day moving average price of $3.71.

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Absci (NASDAQ:ABSI - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.05). Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. The business had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.77 million. During the same period in the prior year, the company posted ($0.24) EPS. On average, sell-side analysts forecast that Absci Co. will post -0.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Absci

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PCA Investment Advisory Services Inc. acquired a new stake in shares of Absci during the 4th quarter valued at about $26,000. Alpha Cubed Investments LLC purchased a new stake in Absci in the fourth quarter valued at approximately $26,000. Ballentine Partners LLC acquired a new position in shares of Absci in the fourth quarter worth $27,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Absci in the third quarter worth $53,000. Finally, Verdence Capital Advisors LLC acquired a new position in shares of Absci during the fourth quarter worth $37,000. Hedge funds and other institutional investors own 52.05% of the company's stock.

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.