ABSI Stock Summary and Trading Ideas (Absci | NASDAQ:ABSI)

Absci Corp is the Artificial intelligence powered synthetic biology company unlocking the potential of proteins as the next generation of therapeutics. It enables the creation of novel biologics by unifying biologic drug discovery and cell line development into one simultaneous process.

Absci trades on the NASDAQ stock market under the symbol ABSI.

As of July 26, 2024, ABSI stock price climbed to $4.48 with 688,433 million shares trading.

ABSI has a beta of 2.48, meaning it tends to be more sensitive to market movements. ABSI has a correlation of 0.10 to the broad based SPY ETF.

ABSI has a market cap of $506.61 million. This is considered a Small Cap stock.

Last quarter Absci reported $898,000 in Revenue and -$.22 earnings per share. This fell short of revenue expectation by $-2 million and missed earnings estimates by -$.01.

In the last 3 years, ABSI stock traded as high as $31.53 and as low as $1.11.

The top ETF exchange traded funds that ABSI belongs to (by Net Assets): ARKG, IWM, VTI, VXF, IWO.

ABSI has outperformed the market in the last year with a price return of +117.5% while the SPY ETF gained +21.0%. However, in the short term, ABSI had mixed performance relative to the market. It has underperformed in the last 3 months, returning -2.2% vs +7.5% return in SPY. But in the last 2 weeks, ABSI shares have fared better than the market returning +11.2% compared to SPY -2.8%.

ABSI support price is $4.09 and resistance is $4.67 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ABSI stock will trade within this expected range on the day.