Absci Co. (NASDAQ:ABSI) Receives $9.00 Consensus Target Price from Analysts

Shares of Absci Co. (NASDAQ:ABSI – Get Rating) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $9.00.

Separately, HC Wainwright initiated coverage on Absci in a report on Thursday. They issued a “buy” rating and a $4.00 price objective on the stock.

Institutional Investors Weigh In On Absci

Several large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. increased its holdings in Absci by 305.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,312 shares of the company’s stock worth $36,000 after purchasing an additional 3,248 shares during the period. Metropolitan Life Insurance Co NY purchased a new stake in Absci during the 1st quarter worth about $33,000. Royal Bank of Canada increased its holdings in Absci by 91.4% during the 1st quarter. Royal Bank of Canada now owns 8,916 shares of the company’s stock worth $75,000 after purchasing an additional 4,258 shares during the period. SG Americas Securities LLC increased its holdings in Absci by 34.1% during the 4th quarter. SG Americas Securities LLC now owns 22,805 shares of the company’s stock worth $48,000 after purchasing an additional 5,803 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Absci by 36.5% during the 4th quarter. Principal Financial Group Inc. now owns 22,108 shares of the company’s stock worth $46,000 after purchasing an additional 5,906 shares during the period. Hedge funds and other institutional investors own 47.59% of the company’s stock.

Absci Price Performance

NASDAQ:ABSI opened at $1.39 on Thursday. Absci has a 52 week low of $1.17 and a 52 week high of $7.04. The company has a quick ratio of 6.17, a current ratio of 6.17 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $128.56 million, a P/E ratio of -1.20 and a beta of 1.15. The stock’s fifty day moving average is $1.73 and its two-hundred day moving average is $2.37.

Absci (NASDAQ:ABSI – Get Rating) last posted its quarterly earnings data on Thursday, March 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.03. The firm had revenue of $1.56 million for the quarter, compared to the consensus estimate of $4.06 million. Absci had a negative return on equity of 34.28% and a negative net margin of 1,825.37%. Equities analysts expect that Absci will post -0.93 EPS for the current year.

About Absci

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Absci Corporation, a drug and target discovery company, provides biologic drug candidates and production cell lines using integrated drug creation platform for partners in the United States. Its integrated drug creation platform enables the creation of biologics by unifying the drug discovery and cell line development processes into one process.