Absci (NASDAQ:ABSI) Issues Earnings Results

Absci (NASDAQ:ABSI) announced its quarterly earnings results on Tuesday. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05), Zacks reports. The firm 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 quarter in the prior year, the business earned ($0.24) EPS.

Absci Stock Performance

Shares of NASDAQ ABSI traded down $0.10 during mid-day trading on Wednesday, reaching $3.54. 613,107 shares of the company were exchanged, compared to its average volume of 1,319,213. The company has a quick ratio of 6.49, a current ratio of 6.49 and a debt-to-equity ratio of 0.01. Absci has a twelve month low of $1.28 and a twelve month high of $6.72. The stock has a market capitalization of $402.00 million, a P/E ratio of -4.08 and a beta of 2.18. The company’s 50-day simple moving average is $3.98 and its 200-day simple moving average is $4.08.

Wall Street Analyst Weigh In

A number of brokerages have commented on ABSI. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Absci in a research note on Thursday, August 15th. Guggenheim began coverage on shares of Absci in a research note on Wednesday, October 2nd. They set a “buy” rating and a $10.00 target price for the company. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Absci currently has a consensus rating of “Buy” and a consensus price target of $8.67.

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.