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Given A -297.74% Drop From High, Can Absci Corporation (NASDAQ: ABSI) Quickly Recover?

During the recent session, Absci Corporation (NASDAQ:ABSI)’s traded shares were 0.59 million. At the last check today, the stock’s price was $1.77, reflecting an intraday gain of 9.20% or $0.15. The 52-week high for the ABSI share is $7.04, that puts it down -297.74 from that peak though still a striking 36.16% gain since the share price plummeted to a 52-week low of $1.13. The company’s market capitalization is $127.15M, and the average intraday trading volume over the past 10 days was 0.77 million shares, and the average trade volume was 438.28K shares over the past three months.

Absci Corporation (NASDAQ:ABSI) trade information

Absci Corporation (ABSI) registered a 9.20% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 9.20% in intraday trading to $1.77 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 49.92%, and it has moved by 22.00% in 30 days. Based on these gigs, the overall price performance for the year is -48.87%. The short interest in Absci Corporation (NASDAQ:ABSI) is 4.31 million shares and it means that shorts have 14.18 day(s) to cover.

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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 -19.59% during the last six months, with a year-to-date growth rate more than the industry average at 17.39% against 11.40. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 25.00% this quarter and then jump 23.30% in the quarter after that. In the rating firms’ projections, revenue will increase 113.30% compared to the previous financial year.

Revenue for the current quarter is expected to be $2.67 million as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $3.31 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $1 million and $2.37 million respectively. In this case, analysts expect current quarter sales to grow by 166.50% and then jump by 39.70% in the coming quarter.

While earnings are projected to return 44.40% in 2023, the next five years will return 20.40% per annum.

ABSI Dividends

Absci Corporation is due to release its next quarterly earnings in June. 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 32.01% of total outstanding shares while institutional holders control 43.79%, with the float percentage being 64.41%. FMR, LLC is the largest shareholder of the company, while 115 institutions own stock in it. As of Mar 30, 2023, the company held over 13.86 million shares (or 14.98% of all shares), a total value of $24.25 million in shares.

The next largest institutional holding, with 8.03 million shares, is of Redmile Group, LLC’s that is approximately 8.68% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $14.05 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 Feb 27, 2023 indicates that Fidelity Growth Company Fund owns about 4.06 million shares. This amounts to just over 4.40 percent of the company’s overall shares, with a $8.61 million market value. The same data shows that the other fund manager holds slightly less at 1.45 million, or about 1.57% of the stock, which is worth about $3.05 million.

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