Absci (NASDAQ:ABSI – Get Free Report)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $7.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 97.74% from the company’s previous close.
Separately, Guggenheim began coverage on shares of Absci in a report on Wednesday, October 2nd. They issued a “buy” rating and a $10.00 price target for the company. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Absci currently has a consensus rating of “Buy” and an average target price of $8.67.
Read Our Latest Report on ABSI
Absci Stock Down 2.7 %
Absci (NASDAQ:ABSI – Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share (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 analyst estimates of $1.77 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 business earned ($0.24) EPS. As a group, analysts forecast that Absci will post -0.8 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Comerica Bank bought a new position in Absci in the 1st quarter valued at approximately $31,000. SG Americas Securities LLC bought a new stake in shares of Absci in the first quarter worth $63,000. Avantax Advisory Services Inc. acquired a new stake in Absci in the first quarter valued at $71,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Absci during the 3rd quarter worth $53,000. Finally, Farther Finance Advisors LLC grew its position in shares of Absci by 119.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock valued at $72,000 after buying an additional 10,275 shares during the last quarter. 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.
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