Absci Co. (NASDAQ:ABSI) Given Consensus Recommendation of "Buy" by Brokerages

Shares of Absci Co. (NASDAQ:ABSI - Get Free Report) have been assigned an average recommendation of "Buy" from the six ratings firms that are presently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $8.67.

ABSI has been the topic of several research reports. KeyCorp lowered their price target on shares of Absci from $8.00 to $6.00 and set an "overweight" rating on the stock in a research report on Thursday, July 11th. Guggenheim started coverage on Absci in a research report on Wednesday, October 2nd. They set a "buy" rating and a $10.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 price target on shares of Absci in a report on Thursday, August 15th. Finally, Morgan Stanley assumed coverage on Absci in a research note on Wednesday, July 3rd. They set an "overweight" rating and a $7.00 price objective on the stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. ARK Investment Management LLC increased its holdings in shares of Absci by 68.0% in the 2nd quarter. ARK Investment Management LLC now owns 5,503,888 shares of the company's stock worth $16,952,000 after buying an additional 2,226,794 shares during the last quarter. Affinity Asset Advisors LLC bought a new stake in shares of Absci in the 1st quarter worth approximately $5,822,000. Vanguard Group Inc. grew its holdings in shares of Absci by 33.7% during the 1st quarter. Vanguard Group Inc. now owns 3,445,272 shares of the company's stock valued at $19,569,000 after purchasing an additional 869,131 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Absci in the 1st quarter worth $2,390,000. Finally, Nikko Asset Management Americas Inc. bought a new stake in Absci in the first quarter worth $2,386,000. Institutional investors own 52.05% of the company's stock.

Absci Stock Down 1.0 %

Absci stock traded down $0.04 during midday trading on Friday, hitting $4.07. 645,477 shares of the stock were exchanged, compared to its average volume of 1,321,159. The stock has a market capitalization of $460.25 million, a price-to-earnings ratio of -3.51 and a beta of 2.19. The company has a quick ratio of 6.49, a current ratio of 6.49 and a debt-to-equity ratio of 0.01. The business's 50-day moving average price is $4.05 and its 200-day moving average price is $4.17. Absci has a 52-week low of $1.11 and a 52-week high of $6.72.

Absci (NASDAQ:ABSI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03). The firm had revenue of $1.27 million for the quarter, compared to the consensus estimate of $2.05 million. Absci had a negative net margin of 2,838.89% and a negative return on equity of 44.24%. During the same period last year, the company posted ($0.27) earnings per share. On average, research analysts expect that Absci will post -0.8 EPS for the current fiscal year.

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.