During the last session, Absci Corporation (NASDAQ:ABSI)’s traded shares were 0.37 million. At the end of the trading day, the stock’s price was $3.71, reflecting an intraday gain of 1.37% or $0.05. The 52-week high for the ABSI share is $28.28, that puts it down -662.26 from that peak though still a striking 21.02% gain since the share price plummeted to a 52-week low of $2.93. The company’s market capitalization is $356.01M, and the average intraday trading volume over the past 10 days was 0.27 million shares, and the average trade volume was 413.41K shares over the past three months.
Absci Corporation (ABSI) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.60. ABSI has a Sell rating from 0 analyst(s) out of 6 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 4 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.3.
Absci Corporation (NASDAQ:ABSI) trade information
Absci Corporation (ABSI) registered a 1.37% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.37% in intraday trading to $3.71 this Friday, 08/05/22, hitting a weekly high. The stock’s 5-day price performance is 12.77%, and it has moved by 7.54% in 30 days. Based on these gigs, the overall price performance for the year is -85.75%. The short interest in Absci Corporation (NASDAQ:ABSI) is 5.29 million shares and it means that shorts have 12.89 day(s) to cover.
The consensus price target of analysts on Wall Street is $14.58, which implies an increase of 74.55% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $3.50 and $28.00 respectively. As a result, ABSI is trading at a discount of -654.72% off the target high and 5.66% off the low.
Absci Corporation (ABSI) estimates and forecasts
Statistics show that Absci Corporation has outperformed its competitors in share price, compared to the industry in which it operates. Absci Corporation (ABSI) shares have gone down -46.70% during the last six months, with a year-to-date growth rate more than the industry average at 38.46% against 1.00. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 87.40% this quarter and then jump 6.10% in the quarter after that. In the rating firms’ projections, revenue will increase 62.50% compared to the previous financial year.
Revenue for the current quarter is expected to be $1.74 million as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $1.84 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $728k and $2.01 million respectively. In this case, analysts expect current quarter sales to grow by 139.00% and then drop by -8.50% in the coming quarter.
While earnings are projected to return -279.60% in 2022, the next five years will return 11.20% per annum.
Absci Corporation is due to release its next quarterly earnings in September. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Absci Corporation (NASDAQ:ABSI)’s Major holders
Absci Corporation insiders own 31.83% of total outstanding shares while institutional holders control 47.78%, with the float percentage being 70.09%. FMR, LLC is the largest shareholder of the company, while 103 institutions own stock in it. As of Mar 30, 2022, the company held over 13.91 million shares (or 14.98% of all shares), a total value of $117.23 million in shares.
The next largest institutional holding, with 8.03 million shares, is of Redmile Group, LLC’s that is approximately 8.65% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $67.7 million.
Also, the Mutual Funds coming in first place with the largest holdings of Absci Corporation (ABSI) shares are Fidelity Growth Company Fund and Vanguard Total Stock Market Index Fund. Data provided on May 30, 2022 indicates that Fidelity Growth Company Fund owns about 4.37 million shares. This amounts to just over 4.71 percent of the company’s overall shares, with a $15.95 million market value. The same data shows that the other fund manager holds slightly less at 1.25 million, or about 1.35% of the stock, which is worth about $10.55 million.