Wall Street Analyst Initiated Absci Corporation [ABSI]. What else is Wall St. saying

Absci Corporation [NASDAQ: ABSI] gained 14.05% or 0.59 points to close at $4.79 with a heavy trading volume of 15041507 shares. The company report on August 11, 2022 that Absci Reports Second Quarter 2022 Financial Results and Business Update.

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Exceeded annual Active Program guidance with ten programs signed year-to-date.

It opened the trading session at $4.19, the shares rose to $7.04 and dropped to $4.03, the range by which the price of stock traded the whole day. The daily chart for ABSI points out that the company has recorded -44.17% loss over the past six months. However, it is still -63.48% lower than its most recent low trading price.

If we look at the average trading volume of 411.84K shares, ABSI reached to a volume of 15041507 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $15.50 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 2.60. 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.

Truist have made an estimate for Absci Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 18, 2022. 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 March 02, 2022, representing the official price target for Absci Corporation stock. Previously, the target price had yet another raise to $28, while Berenberg analysts kept a Buy rating on ABSI stock.

The Average True Range (ATR) for Absci Corporation is set at 0.50, with the Price to Sales ratio for ABSI stock in the period of the last 12 months amounting to 97.49. The Price to Book ratio for the last quarter was 1.27, with the Price to Cash per share for the same quarter was set at 2.47.

Trading performance analysis for ABSI stock

Absci Corporation [ABSI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 30.87. With this latest performance, ABSI shares gained by 49.22% in over the last four-week period, additionally sinking by -44.17% over the last 6 months – not to mention a drop of -79.89% in the past year of trading.

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 77.90, with the RSI for the last a single of trading hit 87.71, and the three-weeks RSI is set at 68.51 for Absci Corporation [ABSI]. The present Moving Average for the last 50 days of trading for this stock 3.50, while it was recorded at 4.09 for the last single week of trading, and 7.19 for the last 200 days.

Absci Corporation [ABSI]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Absci Corporation [ABSI] shares currently have an operating margin of -1554.54 and a Gross Margin at -39.15. Absci Corporation’s Net Margin is presently recorded at -2111.25.

Return on Equity for this stock declined to -46.62, with Return on Assets sitting at -39.23.

Absci Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.10 and a Current Ratio set at 6.10.

Absci Corporation [ABSI]: An earnings per share (EPS) analysis

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 11.20%.

An analysis of insider ownership at Absci Corporation [ABSI]

There are presently around $211 million, or 47.80% of ABSI stock, in the hands of institutional investors. The top three institutional holders of ABSI stocks are: FMR LLC with ownership of 13,906,525, which is approximately 31.636% of the company’s market cap and around 31.83% of the total institutional ownership; REDMILE GROUP, LLC, holding 8,031,094 shares of the stock with an approximate value of $38.47 million in ABSI stocks shares; and CASDIN CAPITAL, LLC, currently with $36.97 million in ABSI stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Absci Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 46 institutional holders increased their position in Absci Corporation [NASDAQ:ABSI] by around 10,076,069 shares. Additionally, 14 investors decreased positions by around 3,640,401 shares, while 17 investors held positions by with 30,347,167 shares. The mentioned changes placed institutional holdings at 44,063,637 shares, according to the latest SEC report filing. ABSI stock had 19 new institutional investments in for a total of 813,329 shares, while 9 institutional investors sold positions of 3,395,939 shares during the same period.


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