FY2030 Earnings Estimate for Absci Issued By HC Wainwright

Absci Corporation (NASDAQ:ABSI) – Investment analysts at HC Wainwright lifted their FY2030 earnings per share estimates for Absci in a research note issued on Monday, May 11th. HC Wainwright analyst S. Ramakanth now expects that the company will earn $0.64 per share for the year, up from their prior estimate of $0.61. The consensus estimate for Absci’s current full-year earnings is ($0.83) per share.

A number of other brokerages have also recently weighed in on ABSI. Truist Financial upped their price objective on shares of Absci from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Friday. Needham & Company LLC reissued a “buy” rating and issued a $7.00 price target on shares of Absci in a research report on Wednesday, March 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Absci in a research note on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Absci currently has an average rating of “Moderate Buy” and an average price target of $7.58.

Absci Price Performance

Shares of NASDAQ ABSI opened at $5.78 on Tuesday. Absci has a 1 year low of $2.24 and a 1 year high of $6.72. The firm has a 50-day moving average of $3.41 and a 200 day moving average of $3.33. The stock has a market cap of $901.10 million, a P/E ratio of -6.96 and a beta of 2.36.

Absci (NASDAQ:ABSI) last announced its earnings results on Thursday, May 7th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. The firm had revenue of $0.22 million for the quarter, compared to analysts’ expectations of $1.39 million. Absci had a negative net margin of 6,450.76% and a negative return on equity of 66.32%.

Insider Transactions at Absci

In other news, insider Andreas Busch acquired 100,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average cost of $2.29 per share, with a total value of $229,000.00. Following the transaction, the insider owned 421,446 shares of the company’s stock, valued at $965,111.34. This trade represents a 31.11% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.49% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC increased its position in shares of Absci by 279.4% during the first quarter. AQR Capital Management LLC now owns 55,538 shares of the company’s stock valued at $139,000 after acquiring an additional 40,901 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Absci by 17.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 314,858 shares of the company’s stock valued at $790,000 after acquiring an additional 46,975 shares in the last quarter. Woodline Partners LP boosted its stake in Absci by 32.9% during the 1st quarter. Woodline Partners LP now owns 1,391,245 shares of the company’s stock valued at $3,492,000 after purchasing an additional 344,270 shares during the last quarter. Geode Capital Management LLC boosted its stake in Absci by 22.5% during the 2nd quarter. Geode Capital Management LLC now owns 2,445,450 shares of the company’s stock valued at $6,286,000 after purchasing an additional 448,984 shares during the last quarter. Finally, Creative Planning increased its holdings in shares of Absci by 145.4% in the 2nd quarter. Creative Planning now owns 46,882 shares of the company’s stock worth $120,000 after purchasing an additional 27,775 shares in the last quarter. Institutional investors own 52.05% of the company’s stock.

About Absci

Absci Corporation (NASDAQ: ABSI) is a biotechnology company that applies machine learning, synthetic biology and automation to accelerate the discovery and development of protein-based therapeutics. The company’s Integrated Drug Creation® (IDC®) platform is designed to identify and produce novel antibody and enzyme candidates at speeds and scales that traditional biopharma discovery methods cannot match. Absci works with pharmaceutical and biotechnology partners to generate, screen and optimize protein molecules for a wide range of therapeutic applications.

The core of Absci’s offering is its end-to-end discovery engine, which combines proprietary algorithms, high-throughput laboratory automation and a deep learning framework.