Absci's (ABSI) Sell (D-) Rating Reaffirmed at Weiss Ratings

Key Points

• Absci's stock received a "sell (D-)" rating from Weiss Ratings, reaffirming concerns over its performance.
• Absci's earnings report showed a loss of ($0.24) EPS, missing estimates, and the company reported a negative net margin of 2,737.94%.
• Despite mixed ratings from analysts, including six "buy" ratings, the average target price for Absci remains at $7.98.

Absci (NASDAQ:ABSI - Get Free Report)'s stock had its "sell (d-)" rating reiterated by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other equities research analysts have also recently weighed in on ABSI. Wall Street Zen cut Absci from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 16th. JPMorgan Chase & Co. assumed coverage on Absci in a report on Thursday, October 2nd. They set an "overweight" rating on the stock. Morgan Stanley lowered their target price on Absci from $6.40 to $5.89 and set an "overweight" rating on the stock in a report on Monday, August 18th. Finally, Needham & Company LLC lowered their target price on Absci from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, August 13th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $7.98.

Absci Price Performance

Absci stock traded up $0.49 during trading hours on Wednesday, reaching $4.23. The company had a trading volume of 6,508,768 shares, compared to its average volume of 4,791,030. The company has a 50-day moving average price of $2.77 and a 200 day moving average price of $2.81. The firm has a market cap of $631.72 million, a price-to-earnings ratio of -4.44 and a beta of 2.06. Absci has a 12-month low of $2.01 and a 12-month high of $6.33.

Absci (NASDAQ:ABSI - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.05). Absci had a negative net margin of 2,737.94% and a negative return on equity of 60.21%. The business had revenue of $0.59 million for the quarter, compared to analysts' expectations of $1.39 million. As a group, research analysts expect that Absci will post -0.89 earnings per share for the current year.

Insider Buying and Selling at Absci

In related news, insider Andreas Busch bought 50,000 shares of the company's stock in a transaction dated Monday, July 28th. The stock was purchased at an average price of $3.04 per share, for a total transaction of $152,000.00. Following the acquisition, the insider owned 327,264 shares in the company, valued at $994,882.56. This trade represents a 18.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Todd Bedrick bought 10,000 shares of the company's stock in a transaction dated Monday, September 22nd. The stock was bought at an average price of $2.70 per share, with a total value of $27,000.00. Following the acquisition, the chief accounting officer owned 180,428 shares in the company, valued at approximately $487,155.60. This trade represents a 5.87% increase in their position. The disclosure for this purchase can be found here. Insiders bought 155,785 shares of company stock worth $433,788 in the last quarter. 10.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Absci

Large investors have recently bought and sold shares of the business. Legal & General Group Plc raised its position in Absci by 45.9% during the 2nd quarter. Legal & General Group Plc now owns 11,690 shares of the company's stock valued at $30,000 after purchasing an additional 3,678 shares in the last quarter. Ballentine Partners LLC raised its position in shares of Absci by 35.8% in the 1st quarter. Ballentine Partners LLC now owns 14,153 shares of the company's stock worth $36,000 after acquiring an additional 3,729 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Absci by 91.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 11,287 shares of the company's stock worth $29,000 after acquiring an additional 5,385 shares in the last quarter. Alpha Cubed Investments LLC raised its position in shares of Absci by 100.0% in the 1st quarter. Alpha Cubed Investments LLC now owns 20,000 shares of the company's stock worth $50,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its position in shares of Absci by 63.5% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 26,255 shares of the company's stock worth $67,000 after acquiring an additional 10,199 shares in the last quarter. Hedge funds and other institutional investors own 52.05% of the company's stock.

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.

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