Absci Corporation [ABSI] Revenue clocked in at $6.06 million, down -12.32% YTD: What’s Next?


Absci Corporation [NASDAQ: ABSI] jumped around 1.05 points on Friday, while shares priced at $7.19 at the close of the session, up 17.10%. The company report on January 7, 2022 that Absci Announces Research Collaboration with Merck.

Collaboration to leverage Absci’s Deep Learning-Enabled Drug Creation™ and Bionic Protein™ technologies.

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Absci Corporation (Nasdaq: ABSI), the drug and target discovery company harnessing deep learning AI and synthetic biology to expand the therapeutic potential of proteins, today announced that it has entered into a research collaboration with Merck (known as MSD outside the United States and Canada), using Absci’s AI-powered Integrated Drug Creation™ Platform.

Compared to the average trading volume of 253.70K shares, ABSI reached a trading volume of 43153206 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Absci Corporation [ABSI]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ABSI shares is $25.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ABSI stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Absci Corporation shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on November 10, 2021. While these analysts kept the previous recommendation, Cowen raised their target price to Market Perform. The new note on the price target was released on October 15, 2021, representing the official price target for Absci Corporation stock. Previously, the target price had yet another raise to $28, while Stifel analysts kept a Hold rating on ABSI stock.

The Average True Range (ATR) for Absci Corporation is set at 1.12, with the Price to Sales ratio for ABSI stock in the period of the last 12 months amounting to 93.85. The Price to Book ratio for the last quarter was 1.36, with the Price to Cash per share for the same quarter was set at 3.53.

How has ABSI stock performed recently?

Absci Corporation [ABSI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.32.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ABSI stock in for the last two-week period is set at 36.43, with the RSI for the last a single of trading hit 37.19, and the three-weeks RSI is set at 37.33 for Absci Corporation [ABSI]. The present Moving Average for the last 50 days of trading for this stock 11.02, while it was recorded at 7.28 for the last single week of trading.

Absci Corporation [ABSI]: Deeper insight into the fundamentals

Absci Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.90 and a Current Ratio set at 9.90.

Earnings analysis for Absci Corporation [ABSI]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ABSI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Absci Corporation go to 9.70%.

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Insider trade positions for Absci Corporation [ABSI]

There are presently around $254 million, or 38.60% of ABSI stock, in the hands of institutional investors. The top three institutional holders of ABSI stocks are: FMR LLC with ownership of 9,498,383, which is approximately New of the company’s market cap and around 8.40% of the total institutional ownership; REDMILE GROUP, LLC, holding 8,031,094 shares of the stock with an approximate value of $57.74 million in ABSI stocks shares; and CASDIN CAPITAL, LLC, currently with $55.5 million in ABSI stock with ownership of nearly New of the company’s market capitalization.

48 institutional holders increased their position in Absci Corporation [NASDAQ:ABSI] by around 35,321,484 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 35,321,484 shares, according to the latest SEC report filing. ABSI stock had 48 new institutional investments in for a total of 35,321,484 shares, while 0 institutional investors sold positions of 0 shares during the same period.