In the latest trading session, 0.47 million Absci Corp (NASDAQ:ABSI) shares changed hands as the company’s beta touched 2.02. With the company’s most recent per share price at $2.92 changed hands at -$0.07 or -2.17% at last look, the market valuation stands at $344.01M. ABSI’s current price is a discount, trading about -130.14% off its 52-week high of $6.72. The share price had its 52-week low at $2.45, which suggests the last value was 16.1% up since then. When we look at Absci Corp’s average trading volume, we note the 10-day average is 3.48 million shares, with the 3-month average coming to 1.49 million.
Analysts gave the Absci Corp (ABSI) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.20. If we narrow down to specifics, the data shows that 0 out of 3 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended ABSI as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. Absci Corp’s EPS for the current quarter is expected to be -0.22.
Absci Corp (NASDAQ:ABSI) trade information
Instantly ABSI was in red as seen in intraday trades today. With action -23.63%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -30.36%, with the 5-day performance at -23.63% in the red. However, in the 30-day time frame, Absci Corp (NASDAQ:ABSI) is 14.71% up. Looking at the short shares, we see there were 12.58 million shares sold at short interest cover period of 8.88 days.
The consensus price target for the stock as assigned by Wall Street analysts is 6, meaning bulls need an upside of 51.33% from its recent market value. According to analyst projections, ABSI’s forecast low is 6 with 6 as the target high. To hit the forecast high, the stock’s price needs a -105.48% plunge from its current level, while the stock would need to soar -105.48% for it to hit the projected low.
Absci Corp (ABSI) estimates and forecasts
Data shows that the Absci Corp share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -0.51% over the past 6 months, a 11.76% in annual growth rate that is considerably lower than the industry average of 17.20%. Year-over-year growth is forecast to reach 6.41% up from the last financial year.
Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of 1.81M. 2 analysts are of the opinion that Absci Corp’s revenue for the current quarter will be 6.55M. The company’s revenue for the corresponding quarters a year ago was 338k and 898k respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 434.17%. The estimates for the next quarter sales put growth at 629.40%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -46.78%. The 2024 estimates are for Absci Corp earnings to increase by 29.44%.
ABSI Dividends
Absci Corp is expected to release its next quarterly earnings report in January.
Absci Corp (NASDAQ:ABSI)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 20.09% of Absci Corp shares while 62.57% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 78.30%. There are 62.57% institutions holding the Absci Corp stock share, with FMR LLC the top institutional holder. As of 2024-06-30, the company held 12.6574% of the shares, roughly 12.58 million ABSI shares worth $38.75 million.
REDMILE GROUP, LLC holds the second largest percentage of outstanding shares, with 8.3037% or 8.25 million shares worth $25.42 million as of 2024-06-30.
Among Mutual Funds, the top two as of Oct 31, 2024 were ARK ETF Tr-ARK Genomic Revolution ETF and Alger Small Cap Focus Fund. With 7.61 shares estimated at $22.03 million under it, the former controlled 6.62% of total outstanding shares. On the other hand, Alger Small Cap Focus Fund held about 4.91% of the shares, roughly 5.64 shares worth around $16.34 million.
