Absci Co. (NASDAQ:ABSI) Given Consensus Rating of "Buy" by Analysts

Shares of Absci Co. (NASDAQ:ABSI - Get Free Report) have received a consensus recommendation of "Buy" from the five ratings firms that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have covered the stock in the last year is $8.40.

A number of research analysts have commented on the stock. Wall Street Zen upgraded shares of Absci from a "sell" rating to a "hold" rating in a research note on Thursday. HC Wainwright restated a "buy" rating and issued a $7.00 price target on shares of Absci in a research report on Wednesday, March 19th. KeyCorp raised their price target on shares of Absci from $5.00 to $9.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. Needham & Company LLC restated a "buy" rating and issued a $9.00 price target on shares of Absci in a research report on Wednesday, May 14th. Finally, Guggenheim restated a "buy" rating and issued a $10.00 price target on shares of Absci in a research report on Thursday, March 20th.

Institutional Trading of Absci

A number of hedge funds and other institutional investors have recently made changes to their positions in ABSI. JPMorgan Chase & Co. increased its position in shares of Absci by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 49,379 shares of the company's stock worth $189,000 after acquiring an additional 6,409 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of Absci during the fourth quarter valued at approximately $27,000. Alpha Cubed Investments LLC acquired a new stake in shares of Absci during the fourth quarter valued at approximately $26,000. SG Americas Securities LLC acquired a new stake in shares of Absci during the fourth quarter valued at approximately $111,000. Finally, Griffin Asset Management Inc. acquired a new stake in shares of Absci during the fourth quarter valued at approximately $167,000. 52.05% of the stock is currently owned by institutional investors.

Absci Stock Performance

NASDAQ ABSI remained flat at $2.66 during trading hours on Thursday. 2,025,273 shares of the company's stock were exchanged, compared to its average volume of 2,745,974. Absci has a 12-month low of $2.01 and a 12-month high of $6.33. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $339.31 million, a PE ratio of -2.86 and a beta of 2.19. The stock has a 50 day simple moving average of $2.83 and a 200 day simple moving average of $3.29.

Absci (NASDAQ:ABSI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.21) EPS for the quarter, beating analysts' consensus estimates of ($0.23) by $0.02. Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. The firm had revenue of $1.18 million for the quarter, compared to the consensus estimate of $1.07 million. On average, equities research analysts anticipate that Absci will post -0.89 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.