In last trading session, Absci Corporation (NASDAQ:ABSI) saw 0.14 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $2.20 trading at $0.0 or 0.00% at ring of the bell on the day assigns it a market valuation of $221.28M. That closing price of ABSI’s stock is at a discount of -441.36% from its 52-week high price of $11.91 and is indicating a premium of 8.18% from its 52-week low price of $2.02. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.37 million shares which gives us an average trading volume of 324.05K if we extend that period to 3-months.
For Absci Corporation (ABSI), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.70. Splitting up the data highlights that, out of 7 analysts covering the stock, 1 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 1 suggested the stock as a Hold whereas 4 see the stock as a Buy. 1 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.28 in the current quarter.
Absci Corporation (NASDAQ:ABSI) trade information
ABSI remained trading in the red while hitting it’s week-highest on Thursday, 11/17/22 when the stock touched $2.20 price level, adding 18.22% to its value on the day. Absci Corporation’s shares saw a change of -73.17% in year-to-date performance and have moved -18.22% in past 5-day. Absci Corporation (NASDAQ:ABSI) showed a performance of -28.80% in past 30-days. Number of shares sold short was 5.35 million shares which calculate 15.19 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $12.00 to the stock, which implies a rise of 81.67% to its current value. Analysts have been projecting $3.00 as a low price target for the stock while placing it at a high target of $28.00. It follows that stock’s current price would drop -1172.73% in reaching the projected high whereas dropping to the targeted low would mean a loss of -36.36% for stock’s current value.
Absci Corporation (ABSI) estimates and forecasts
Statistics highlight that Absci Corporation is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -36.78% of value to its shares in past 6 months, showing an annual growth rate of 45.67% while that of industry is 4.60. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 15.20% in the current quarter and calculating 10.70% increase in the next quarter. This year revenue growth is estimated to rise 72.70% from the last financial year’s standing.
6 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $1.87 million for the same. And 6 analysts are in estimates of company making revenue of $4.54 million in the next quarter that will end on Dec 2022. Company posted $2.01 million and $1.45 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -7.00% while estimating it to be 212.70% for the next quarter.
In 2022, company’s earnings growth rate is likely to be around -279.60% while estimates for its earnings growth in next 5 years are of 17.00%.
Absci Corporation is more likely to be releasing its next quarterly report in December and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Absci Corporation (NASDAQ:ABSI)’s Major holders
Insiders are in possession of 31.83% of company’s total shares while institution are holding 46.07 percent of that, with stock having share float percentage of 67.59%. Investors also watch the number of corporate investors in a company very closely, which is 46.07% institutions for Absci Corporation that are currently holding shares of the company. FMR, LLC is the top institutional holder at ABSI for having 13.93 million shares of worth $46.24 million. And as of Jun 29, 2022, it was holding 15.00% of the company’s outstanding shares.
The second largest institutional holder is Redmile Group, LLC, which was holding about 8.03 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 8.65% of outstanding shares, having a total worth of $26.66 million.
On the other hand, Fidelity Growth Company Fund and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jul 30, 2022, the former fund manager was holding 4.29 million shares of worth $14.1 million or 4.62% of the total outstanding shares. The later fund manager was in possession of 1.25 million shares on Jun 29, 2022, making its stake of worth around $4.15 million in the company or a holder of 1.35% of company’s stock.