Absci (NASDAQ:ABSI) Given Buy Rating at HC Wainwright

Absci (NASDAQ:ABSI - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $7.00 price objective on the stock. HC Wainwright's target price would indicate a potential upside of 89.45% from the company's current price.

Separately, Guggenheim reaffirmed a "buy" rating and set a $10.00 price target on shares of Absci in a research note on Tuesday, December 3rd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $8.67.

Absci Price Performance

Shares of NASDAQ ABSI traded up $0.01 during mid-day trading on Friday, hitting $3.70. 2,436,603 shares of the stock were exchanged, compared to its average volume of 1,403,964. The company has a market cap of $424.39 million, a P/E ratio of -3.97 and a beta of 2.02. Absci has a twelve month low of $2.45 and a twelve month high of $6.72. The stock's fifty day simple moving average is $3.60 and its two-hundred day simple moving average is $3.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63.

Absci (NASDAQ:ABSI - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.05). Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. The business had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.77 million. During the same quarter in the previous year, the company posted ($0.24) EPS. As a group, analysts forecast that Absci will post -0.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Absci

Hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank acquired a new stake in Absci in the first quarter worth $31,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Absci in the 3rd quarter valued at $53,000. Farther Finance Advisors LLC raised its stake in Absci by 119.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company's stock worth $72,000 after buying an additional 10,275 shares during the period. Intech Investment Management LLC bought a new position in Absci during the third quarter worth about $86,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Absci in the second quarter valued at about $100,000. Institutional investors and hedge funds 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.