Absci Corp (NASDAQ:ABSI)’s traded shares stood at 0.59 million during the last session, with the company’s beta value hitting 2.24. At the close of trading, the stock’s price was $3.90, to imply an increase of 5.69% or $0.21 in intraday trading. The ABSI share’s 52-week high remains $6.72, putting it -72.31% down since that peak but still an impressive 71.54% since price per share fell to its 52-week low of $1.11. The company has a valuation of $442.88M, with an average of 1.04 million shares in intraday trading volume over the past 10 days and average of 1.58 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Absci Corp (ABSI), translating to a mean rating of 1.29. Of 3 analyst(s) looking at the stock, 0 analyst(s) give ABSI a Sell rating. 0 of those analysts rate the stock as Overweight while 0 advise Hold as 3 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -0.21.
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Absci Corp (NASDAQ:ABSI) trade information
After registering a 5.69% upside in the last session, Absci Corp (ABSI) has traded red over the past five days. The 5-day price performance for the stock is -2.99%, and 4.56% over 30 days. With these gigs, the year-to-date price performance is -7.14%. Short interest in Absci Corp (NASDAQ:ABSI) saw shorts transact 12.08 million shares and set a 12.88 days time to cover.
The extremes give us $6 and $6 for target low and target high price respectively. As such, ABSI has been trading -53.85% off suggested target high and -53.85% from its likely low.
Absci Corp (ABSI) estimates and forecasts
Looking at statistics comparing Absci Corp share performance against respective industry, we note that the company has outperformed competitors. Absci Corp (ABSI) shares are -18.58% down over the last 6 months, with its year-to-date growth rate higher than industry average at 21.57% against 17.20%. Revenue is forecast to grow 12.50% this quarter before jumping 16.00% for the next one. The rating firms project that company’s revenue will grow 8.30% compared to the previous financial year.
Revenue forecast for the current quarter as set by 6 analysts is 1.75M. Meanwhile, for the current quarter, a total of 6 analyst(s) estimate revenue growth to 1.82M.Earnings reports from the last fiscal year show that sales brought in 744k and 338k respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 135.20% before jumping 438.50% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -46.78% for the past 5-year period. While 2024 is set for a 35.83% return in earnings, projections for the next 5 years are at 23.30% annually.
ABSI Dividends
Absci Corp has its next earnings report out on 2024-Nov-14. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too.
Absci Corp (NASDAQ:ABSI)’s Major holders
Absci Corp insiders hold 20.32% of total outstanding shares, with institutional holders owning 60.75% of the shares at 76.23% float percentage. In total, 60.75% institutions holds shares in the company, led by FMR LLC. As of 2024-06-30, the company held over 12.58 million shares (or 12.6574% of shares), all amounting to roughly $38.75 million.
The next major institution holding the largest number of shares is REDMILE GROUP, LLC with 8.25 million shares, or about 8.3037% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $25.42 million.
We also have Alger Small Cap Focus Fund and ARK ETF Tr-ARK Genomic Revolution ETF as the top two Mutual Funds with the largest holdings of the Absci Corp (ABSI) shares. Going by data provided on Apr 30, 2024 , Alger Small Cap Focus Fund holds roughly 5.81 shares. This is just over 5.11% of the total shares, with a market valuation of $22.65 million. Data from the same date shows that the other fund manager holds a little less at 5.81, or 5.11% of the shares, all valued at about 22.64 million.
