Analysts Set Absci Co. (NASDAQ:ABSI) Price Target at $8.67

Shares of Absci Co. (NASDAQ:ABSI) have been given an average recommendation of “Buy” by the six analysts that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have covered the stock in the last year is $8.67.

A number of equities research analysts have recently commented on ABSI shares. Guggenheim started coverage on Absci in a research note on Wednesday, October 2nd. They set a “buy” rating and a $10.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of Absci in a research report on Wednesday, November 13th.

Absci Stock Up 6.9 %

Absci stock opened at $2.94 on Thursday. Absci has a fifty-two week low of $1.35 and a fifty-two week high of $6.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63. The firm’s 50-day simple moving average is $3.77 and its 200 day simple moving average is $3.93. The stock has a market cap of $337.69 million, a PE ratio of -3.18 and a beta of 2.18.

Absci (NASDAQ:ABSI) last released its earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The business had revenue of $1.70 million during 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 period in the prior year, the company earned ($0.24) earnings per share. Research analysts predict that Absci will post -0.9 EPS for the current fiscal year.

Institutional Trading of Absci

Institutional investors and hedge funds have recently bought and sold shares of the company. Comerica Bank purchased a new position in shares of Absci during the first quarter worth about $31,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Absci in the 3rd quarter worth about $53,000. SG Americas Securities LLC purchased a new position in shares of Absci during the 1st quarter valued at about $63,000. Avantax Advisory Services Inc. bought a new stake in Absci in the 1st quarter worth approximately $71,000. Finally, Farther Finance Advisors LLC grew its position in Absci by 119.5% during the third quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock valued at $72,000 after acquiring an additional 10,275 shares during the last quarter. 52.05% of the stock is currently owned by hedge funds and other institutional investors.

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.