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

Absci Co. (NASDAQ:ABSI) has been given a consensus rating of “Buy” by the six research firms that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $8.67.

Several research analysts have commented on the company. Guggenheim initiated coverage on Absci in a report 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 %

Shares of ABSI opened at $2.94 on Thursday. The stock has a market capitalization of $337.69 million, a price-to-earnings ratio of -3.18 and a beta of 2.18. Absci has a 52 week low of $1.35 and a 52 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 stock has a fifty day moving average of $3.77 and a 200-day moving average of $3.93.

Absci (NASDAQ:ABSI) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The firm had revenue of $1.70 million for the quarter, compared to the consensus estimate 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 quarter last year, the firm posted ($0.24) earnings per share. As a group, sell-side analysts anticipate that Absci will post -0.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in Absci in the first quarter worth approximately $63,000. Avantax Advisory Services Inc. bought a new stake in Absci during the 1st quarter valued at $71,000. Vanguard Group Inc. raised its holdings in Absci by 33.7% during the first quarter. Vanguard Group Inc. now owns 3,445,272 shares of the company’s stock worth $19,569,000 after buying an additional 869,131 shares during the last quarter. Affinity Asset Advisors LLC bought a new position in shares of Absci in the first quarter valued at $5,822,000. Finally, Redmile Group LLC grew its holdings in shares of Absci by 2.8% during the first quarter. Redmile Group LLC now owns 8,253,316 shares of the company’s stock valued at $46,879,000 after buying an additional 222,222 shares during the last quarter. 52.05% of the stock is owned by institutional investors.

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.