Absci Corp [ABSI] stock prices are up 5.13% to $5.74 at the moment. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The ABSI shares have gain 17.14% over the last week, with a monthly amount glided 30.45%, and seem to be holding up well over a long-time horizon.
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On 1, March 2024, Absci Announces Closing of Public Offering of Common Stock Including Full Exercise of the Underwriters’ Option to Purchase Additional Shares. In a post published today on Yahoo Finance, Absci Corporation (Nasdaq: ABSI) (“Absci”), a data-first generative AI drug creation company, today announced the closing of its underwritten public offering of 19,205,000 shares of its common stock at a public offering price of $4.50 per share, before deducting underwriting discounts and commissions. The shares of common stock include 2,505,000 shares pursuant to the option granted by Absci to the underwriters, which was exercised in full. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, were approximately $86.4 million. All of the shares in the offering were sold by Absci.
From an analyst’s perspective:
Absci Corp [NASDAQ: ABSI] stock has seen the most recent analyst activity on December 05, 2023, when KeyBanc Capital Markets initiated its Overweight rating and assigned the stock a price target of $3. Previously, H.C. Wainwright started tracking the stock with Buy rating on May 04, 2023, and set its price target to $4. On August 12, 2022, downgrade downgraded it’s rating to Underweight. Truist started tracking the stock assigning a Buy rating and suggested a price target of $8 on July 18, 2022. Berenberg started tracking with a Buy rating for this stock on February 01, 2022, and assigned it a price target of $28. In a note dated November 10, 2021, BofA Securities downgraded an Underperform rating on this stock but restated the target price of $10.
The stock price of Absci Corp [ABSI] has been fluctuating between $1.11 and $5.58 over the past year. Absci Corp [NASDAQ: ABSI] shares were valued at $5.74 at the most recent close of the market.
Analyzing the ABSI fundamentals
The Absci Corp [NASDAQ:ABSI] reported sales of 6.94M for trailing twelve months, representing a drop of -68.59%. Gross Profit Margin for this corporation currently stands at -1.03% with Operating Profit Margin at -16.13%, Pretax Profit Margin comes in at -15.42%, and Net Profit Margin reading is -15.35%. To continue investigating profitability, this company’s Return on Assets is posted at -0.45, Equity is -0.45 and Total Capital is -0.54. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.09.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 5.25 points at the first support level, and at 4.76 for the second support level. However, for the 1st resistance point, the stock is sitting at 6.32, and for the 2nd resistance point, it is at 6.89.
Absci Corp [ABSI] reported earnings per share of -$0.24 for its fiscal quarter that ended on 9/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.23/share, meaning a difference of -$0.01 and a surprise factor of -4.30%. By comparison, the stated earnings for the previous quarter ended on 6/29/2023 were -$0.45 per share as compared to estimates of -$0.24 per share, a difference of -$0.21 representing a surprise of -87.50%.
Ratios To Look Out For
It’s worth pointing out that Absci Corp [NASDAQ:ABSI]’s Current Ratio is 4.82. Further, the Quick Ratio stands at 4.82, while the Cash Ratio is 2.49. Considering the valuation of this stock, the price to sales ratio is 76.87, the price to book ratio is 2.72.
