Absci (NASDAQ:ABSI) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Absci (NASDAQ:ABSIGet Free Report) posted its quarterly earnings data on Monday. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03), Yahoo Finance reports. Absci had a negative return on equity of 44.52% and a negative net margin of 1,933.65%. The business had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.50 million. During the same period in the previous year, the business earned ($0.26) EPS.

Absci Stock Performance

Shares of NASDAQ ABSI traded down $0.03 during trading on Wednesday, reaching $4.80. 336,174 shares of the company traded hands, compared to its average volume of 1,385,062. Absci has a 12-month low of $1.11 and a 12-month high of $6.72. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 0.03. The stock has a market cap of $542.78 million, a P/E ratio of -4.17 and a beta of 2.39. The firm’s fifty day simple moving average is $5.16 and its 200 day simple moving average is $3.91.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. KeyCorp upped their price objective on shares of Absci from $5.00 to $8.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Scotiabank reiterated an “outperform” rating and set a $13.00 price objective on shares of Absci in a research note on Monday, March 25th. Truist Financial reissued a “buy” rating and issued a $9.00 target price on shares of Absci in a research report on Tuesday, March 26th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Absci in a research report on Wednesday.

View Our Latest Research Report on Absci

Insider Transactions at Absci

In other news, Director Redmile Group, Llc purchased 222,222 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were bought at an average price of $4.50 per share, for a total transaction of $999,999.00. Following the completion of the transaction, the director now owns 8,253,316 shares in the company, valued at $37,139,922. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.81% of the company’s stock.

About Absci

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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.

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Earnings History for Absci (NASDAQ:ABSI)

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