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Absci Corporation (ABSI) Surges 10.0%: Is This an Indication of Further Gains?

Zacks Equity Research
·2 分鐘文章

Absci Corporation (ABSI) shares rallied 10% in the last trading session to close at $5.16. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 18.4% gain over the past four weeks.

Last month, the company initiated IND-enabling studies for ABS-101, an anti-TL1A antibody developed using its de novo generative AI foundation model. This might have been driving the share price rally.

This company is expected to post quarterly loss of $0.23 per share in its upcoming report, which represents a year-over-year change of -9.5%. Revenues are expected to be $2.18 million, up 39.7% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

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For Absci Corporation, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ABSI going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Absci Corporation is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, HOOKIPA Pharma Inc. (HOOK), finished the last trading session 4% lower at $0.77. HOOK has returned 28.8% over the past month.

HOOKIPA Pharma Inc.'s consensus EPS estimate for the upcoming report has changed +36.4% over the past month to -$0.20. Compared to the company's year-ago EPS, this represents a change of -17.7%. HOOKIPA Pharma Inc. currently boasts a Zacks Rank of #2 (Buy).

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