In the journey to outperform the market, investors delve into the art of stock selection. Choosing the right stocks can be a powerful driver for wealth accumulation.
The closing price of Absci Corp (NASDAQ: ABSI) was $3.07 for the day, down -8.90% from the previous closing price of $3.37. In other words, the price has decreased by -$8.90 from its previous closing price. On the day, 2.09 million shares were traded. ABSI stock price reached its highest trading level at $3.55 during the session, while it also had its lowest trading level at $3.065.
Ratios:
Our analysis of ABSI’s different ratios will help us gain a deeper understanding of the company. For the most recent quarter (mrq), Quick Ratio is recorded 5.63 and its Current Ratio is at 5.63. In the meantime, Its Debt-to-Equity ratio is 0.06 whereas as Long-Term Debt/Eq ratio is at 0.03.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Guggenheim on October 02, 2024, initiated with a Buy rating and assigned the stock a target price of $10.
On July 03, 2024, Morgan Stanley started tracking the stock assigning a Overweight rating and target price of $7.
On March 14, 2024, Scotiabank started tracking the stock assigning a Sector Outperform rating and target price of $13.Scotiabank initiated its Sector Outperform rating on March 14, 2024, with a $13 target price.
Insider Transactions:
Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Jun 13 ’24 when Jonasson Zachariah sold 19,859 shares for $4.98 per share. The transaction valued at 98,892 led to the insider holds 384,751 shares of the business.
Phoenix Venture Partners II LP sold 3,100,000 shares of ABSI for $13,640,000 on May 22 ’24. The 10% Owner now owns 11,279,522 shares after completing the transaction at $4.40 per share. On Mar 01 ’24, another insider, Redmile Group, LLC, who serves as the Director of the company, bought 222,222 shares for $4.50 each. As a result, the insider paid 999,999 and bolstered with 8,253,316 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, ABSI now has a Market Capitalization of 352607904 and an Enterprise Value of 237528176. For the stock, the TTM Price-to-Sale (P/S) ratio is 83.75 while its Price-to-Book (P/B) ratio in mrq is 1.74. Its current Enterprise Value per Revenue stands at 56.46 whereas that against EBITDA is -2.648.
Stock Price History:
Over the past 52 weeks, ABSI has reached a high of $6.72, while it has fallen to a 52-week low of $2.45. The 50-Day Moving Average of the stock is -7.65%, while the 200-Day Moving Average is calculated to be -24.27%.
Shares Statistics:
ABSI traded an average of 1.71M shares per day over the past three months and 2240080 shares per day over the past ten days. A total of 114.19M shares are outstanding, with a floating share count of 92.27M. Insiders hold about 19.67% of the company’s shares, while institutions hold 62.24% stake in the company. Shares short for ABSI as of 1734048000 were 14017462 with a Short Ratio of 8.20, compared to 1731628800 on 12005237. Therefore, it implies a Short% of Shares Outstanding of 14017462 and a Short% of Float of 17.979999.
