Absci’s (ABSI) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Absci (NASDAQ:ABSI) in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $7.00 target price on the stock. HC Wainwright also issued estimates for Absci’s Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at ($0.93) EPS, Q1 2025 earnings at ($0.19) EPS, Q2 2025 earnings at ($0.20) EPS, Q3 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.20) EPS, FY2025 earnings at ($0.69) EPS, FY2026 earnings at ($0.56) EPS, FY2027 earnings at ($0.25) EPS and FY2028 earnings at $0.22 EPS.

Separately, Guggenheim began coverage on shares of Absci in a report on Wednesday, October 2nd. They set a “buy” rating and a $10.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $8.67.

Absci Stock Down 5.8 %

Shares of NASDAQ ABSI opened at $2.84 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 6.49. The stock has a market capitalization of $326.19 million, a PE ratio of -3.05 and a beta of 2.18. Absci has a one year low of $1.33 and a one year high of $6.72. The business’s fifty day moving average price is $3.91 and its 200-day moving average price is $4.06.

Absci (NASDAQ:ABSI) last issued its earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. The business had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.77 million. During the same quarter in the prior year, the business earned ($0.24) EPS. On average, equities research analysts anticipate that Absci will post -0.8 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ABSI. Barclays PLC increased its stake in Absci by 379.6% in the third quarter. Barclays PLC now owns 131,504 shares of the company’s stock valued at $503,000 after acquiring an additional 104,083 shares during the last quarter. Wellington Management Group LLP increased its stake in Absci by 44.8% in the third quarter. Wellington Management Group LLP now owns 348,854 shares of the company’s stock valued at $1,333,000 after acquiring an additional 107,980 shares during the last quarter. Polar Asset Management Partners Inc. bought a new position in Absci in the third quarter valued at $523,000. Fred Alger Management LLC increased its stake in Absci by 4.3% in the third quarter. Fred Alger Management LLC now owns 7,566,618 shares of the company’s stock valued at $28,904,000 after acquiring an additional 309,843 shares during the last quarter. Finally, Verition Fund Management LLC bought a new position in Absci in the third quarter valued at $231,000. 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.