Absci's (ABSI) "Buy" Rating Reiterated at HC Wainwright

Absci (NASDAQ:ABSI - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at HC Wainwright in a research note issued on Friday,Benzinga reports. They currently have a $7.00 price objective on the stock. HC Wainwright's target price indicates a potential upside of 144.33% from the stock's current price.

A number of other brokerages have also recently commented on ABSI. Guggenheim reiterated a "buy" rating and issued a $10.00 target price on shares of Absci in a report on Tuesday, December 3rd. KeyCorp reduced their target price on shares of Absci from $6.00 to $5.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Absci has a consensus rating of "Buy" and an average target price of $8.50.

Absci Price Performance

Shares of NASDAQ ABSI traded up $0.07 during midday trading on Friday, reaching $2.87. 1,847,987 shares of the stock traded hands, compared to its average volume of 8,607,288. The company's 50 day moving average is $3.09 and its 200 day moving average is $3.67. Absci has a one year low of $2.45 and a one 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 $329.07 million, a PE ratio of -3.08 and a beta of 2.04.

Absci (NASDAQ:ABSI - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.05). The business had revenue of $1.70 million during 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 business earned ($0.24) earnings per share. On average, equities research analysts anticipate that Absci will post -0.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in Absci by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 49,379 shares of the company's stock worth $189,000 after acquiring an additional 6,409 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Absci by 5.9% in the third quarter. Victory Capital Management Inc. now owns 150,562 shares of the company's stock valued at $575,000 after purchasing an additional 8,388 shares during the period. PCA Investment Advisory Services Inc. bought a new position in Absci in the fourth quarter worth approximately $26,000. Alpha Cubed Investments LLC purchased a new position in Absci during the 4th quarter worth $26,000. Finally, Farther Finance Advisors LLC increased its holdings 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 purchasing an additional 10,275 shares during the period. Hedge funds and other institutional investors own 52.05% of the company's stock.

About Absci

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.