Absci Corp (NASDAQ: ABSI): Would You Buy Today?

In the last trading session, 1.84 million shares of the Absci Corp (NASDAQ:ABSI) were traded, and its beta was 2.37. Most recently the company’s share price was $5.14, and it changed around -$0.47 or -8.38% from the last close, which brings the market valuation of the company to $579.69M. ABSI currently trades at a discount to its 52-week high of $6.40, offering almost -24.51% off that amount. The share price’s 52-week low was $1.11, which indicates that the current value has risen by an impressive 78.4% since then. We note from Absci Corp’s average daily trading volume that its 10-day average is 1.34 million shares, with the 3-month average coming to 1.56 million.

Absci Corp (NASDAQ:ABSI) trade information

Instantly ABSI has showed a red trend with a performance of -8.38% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 22.38% year-to-date, but still up 1.58% over the last five days. On the other hand, Absci Corp (NASDAQ:ABSI) is -5.86% down in the 30-day period. We can see from the shorts that 10.68 million shares have been sold at a short interest cover period of 5.61 day(s).

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The consensus price target as assigned by Wall Street analysts is $6, which translates to bulls needing to increase their stock price by 14.33% from its current value. Analyst projections state that ABSI is forecast to be at a low of $6 and a high of $6.

Absci Corp (ABSI) estimates and forecasts

Absci Corp share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 289.39 percent over the past six months and at a 26.47% annual growth rate that is well above the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 19.20% in revenue this quarter, and will report an increase of 55.60% in the next quarter. The year-over-year growth rate is expected to be 91.70%, up from the previous year.

Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $2.42 million in revenue for the current quarter. 5 analysts expect Absci Corp to make $3.08 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $1.27 million and $3.37 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 90.70%. Forecasts for the next quarter put sales growth at -8.50%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -46.78%. Absci Corp earnings are expected to increase by 29.72% in 2024, but the outlook is positive 23.30% per year for the next five years.

ABSI Dividends

Absci Corp’s next quarterly earnings report is expected to be released around March 25 and March 29.

Absci Corp (NASDAQ:ABSI)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 22.65% of Absci Corp shares, and 34.05% of them are in the hands of institutional investors. The stock currently has a share float of 44.02%. Absci Corp stock is held by 86 institutions, with FMR, LLC being the largest institutional investor. By Jun 29, 2023, it held 14.95% of the shares, which is about 13.86 million shares worth $21.07 million.

Redmile Group, LLC, with 8.66% or 8.03 million shares worth $12.21 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Fidelity Growth Company Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Aug 30, 2023. The former held 3.97 million shares worth $7.11 million, making up 4.29% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 1.45 million shares worth around $2.21 million, which represents about 1.57% of the total shares outstanding.