Absci (NASDAQ:ABSI) Trading Down 4.8% - What's Next?

Absci Co. (NASDAQ:ABSI - Get Free Report) was down 4.8% during trading on Monday . The company traded as low as $4.55 and last traded at $4.45. Approximately 472,021 shares changed hands during trading, a decline of 93% from the average daily volume of 7,060,481 shares. The stock had previously closed at $4.67.

Wall Street Analyst Weigh In

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

Absci Stock Up 0.2 %

The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.01. The firm has a market cap of $574.28 million, a PE ratio of -5.38 and a beta of 2.11. The stock has a fifty day simple moving average of $3.50 and a two-hundred day simple moving average of $3.71.

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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 analysts' consensus estimates of ($0.19) by ($0.05). The business had revenue of $1.70 million for the quarter, compared to the consensus estimate 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 quarter last year, the business posted ($0.24) EPS. As a group, sell-side analysts expect that Absci Co. will post -0.89 EPS for the current fiscal year.

Institutional Trading of Absci

A number of large investors have recently modified their holdings of the business. Jump Financial LLC bought a new stake in shares of Absci during the 4th quarter valued at about $336,000. Walleye Capital LLC lifted its position in Absci by 146.6% in the 4th quarter. Walleye Capital LLC now owns 63,188 shares of the company's stock worth $166,000 after buying an additional 37,561 shares during the last quarter. XTX Topco Ltd bought a new stake in Absci in the fourth quarter valued at approximately $165,000. Mariner LLC bought a new stake in Absci in the fourth quarter valued at approximately $62,000. Finally, Kennedy Capital Management LLC lifted its position in Absci by 16.2% in the fourth quarter. Kennedy Capital Management LLC now owns 102,995 shares of the company's stock valued at $270,000 after purchasing an additional 14,373 shares during the last quarter. 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.