In today’s recent session, 9.91 million shares of the Absci Corp (NASDAQ:ABSI) have been traded, and its beta is 2.09. Most recently the company’s share price was $4.24, and it changed around $1.02 or 31.68% from the last close, which brings the market valuation of the company to $486.99M. ABSI at last check was trading at a discount to its 52-week high of $6.72, offering almost -58.49% off that amount. The share price’s 52-week low was $2.45, which indicates that the recent value has risen by an impressive 42.22% since then. We note from Absci Corp’s average daily trading volume that its 10-day average is 9.43 million shares, with the 3-month average coming to 3.15 million.
Absci Corp stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 9 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 1 recommended ABSI as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. Absci Corp is expected to report earnings per share of -0.22 for the current quarter.
Absci Corp (NASDAQ:ABSI) trade information
Instantly ABSI has been showing a green trend so far today with a performance of 31.68% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 4.12 on recent trading daydecreased the stock’s daily price by -2.91%. The company’s shares are currently up 61.83% year-to-date, but still up 56.46% over the last five days. On the other hand, Absci Corp (NASDAQ:ABSI) is 39.47% up in the 30-day period. We can see from the shorts that 15.49 million shares have been sold at a short interest cover period of 5.86 day(s).
The consensus price target as assigned by Wall Street analysts is $6, which translates to bulls needing to increase their stock price by 29.33% 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 not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 3.41 percent over the past six months and at a 11.76% annual growth rate that is well below the industry average of 16.50%. The year-over-year growth rate is expected to be 7.25%, up from the previous year.
Consensus estimates provided by 7 financial analysts predict the company will bring in an average of 1.81M in revenue for the current quarter. 2 analysts expect Absci Corp to make 6.55M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 338k and 898k respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 434.41%. Forecasts for the next quarter put sales growth at 629.40%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -46.78%.
ABSI Dividends
Absci Corp’s next quarterly earnings report is expected to be released in February.
Absci Corp (NASDAQ:ABSI)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 20.09% of Absci Corp shares, and 62.69% of them are in the hands of institutional investors. The stock currently has a share float of 78.45%. Absci Corp stock is held by 170.0 institutions, with FMR LLC being the largest institutional investor. By 2024-06-30, it held 12.6574% of the shares, which is about 12.58 million shares worth $38.75 million.
REDMILE GROUP, LLC, with 8.3037% or 8.25 million shares worth $25.42 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
ARK ETF Tr-ARK Genomic Revolution ETF and Alger Small Cap Focus Fund were the top two Mutual Funds as of Nov 30, 2024. The former held 7.82 shares worth $31.97 million, making up 6.81% of all outstanding shares. On the other hand, Alger Small Cap Focus Fund held roughly 5.04 shares worth around $20.61 million, which represents about 4.39% of the total shares outstanding.
