In yesterday’s Wall Street session, Absci Corp (NASDAQ:ABSI) shares traded at $4.99, up 1.63% from the previous session.
ABSI stock price is now 43.65% away from the 50-day moving average and 29.01% away from the 200-day moving average. The market capitalization of the company currently stands at $573.13M.
With the price target of $9, Needham recently initiated with Buy rating for Absci Corp (NASDAQ: ABSI). On October 02, 2024, Guggenheim recently initiated its ‘Buy’ rating on the stock quoting a target price of $10, while ‘Morgan Stanley’ rates the stock as ‘Overweight’
In other news, Jonasson Zachariah, CFO / CBO sold 19,859 shares of the company’s stock on Jun 13 ’24. The stock was sold for $98,892 at an average price of $4.98. Upon completion of the transaction, the CFO / CBO now directly owns 384,751 shares in the company, valued at $1.92 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 22 ’24, 10% Owner Phoenix Venture Partners II LP sold 3,100,000 shares of the business’s stock. A total of $13,640,000 was realized by selling the stock at an average price of $4.40. This leaves the insider owning 11,279,522 shares of the company worth $56.28 million. A total of 20.03% of the company’s stock is owned by insiders.
During the past 12 months, Absci Corp has had a low of $2.45 and a high of $6.72. As of last week, the company has a debt-to-equity ratio of 0.06, a current ratio of 5.63, and a quick ratio of 5.63. The fifty day moving average price for ABSI is $3.4328 and a two-hundred day moving average price translates $3.8651 for the stock.
The latest earnings results from Absci Corp (NASDAQ: ABSI) was released for 2024-09-30. The net profit margin was -2321.56% and return on equity was -49.11% for ABSI. The company reported revenue of $1.7 million for the quarter, compared to $0.74 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 128.63 percent.
