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

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

A number of equities analysts have recently issued reports on the company. Morgan Stanley assumed coverage on Absci in a research report on Wednesday, July 3rd. They set an “overweight” rating and a $7.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Absci in a research report on Thursday, August 15th. KeyCorp dropped their price target on Absci from $8.00 to $6.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Finally, Guggenheim assumed coverage on Absci in a research report on Wednesday, October 2nd. They set a “buy” rating and a $10.00 price target on the stock.

Institutional Investors Weigh In On Absci

A number of hedge funds have recently made changes to their positions in ABSI. Hsbc Holdings PLC lifted its stake in shares of Absci by 153.8% during the 4th quarter. Hsbc Holdings PLC now owns 407,579 shares of the company’s stock worth $1,769,000 after purchasing an additional 247,019 shares during the last quarter. Salem Investment Counselors Inc. purchased a new stake in Absci in the first quarter valued at about $122,000. Cannon Global Investment Management LLC purchased a new stake in Absci in the first quarter valued at about $104,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Absci in the first quarter valued at about $2,390,000. Finally, Capstone Investment Advisors LLC purchased a new stake in Absci in the first quarter valued at about $1,477,000. 52.05% of the stock is currently owned by hedge funds and other institutional investors.

Absci Stock Performance

Shares of Absci stock opened at $3.88 on Wednesday. The stock’s fifty day moving average is $4.01 and its two-hundred day moving average is $4.33. The company has a market capitalization of $438.77 million, a PE ratio of -3.34 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. Absci has a 52 week low of $1.11 and a 52 week high of $6.72.

Absci (NASDAQ:ABSI) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.03). The business had revenue of $1.27 million during 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 earned ($0.27) EPS. As a group, analysts expect that Absci will post -0.8 earnings per share for the current 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.