Absci Corp (ABSI) said after close Tuesday that it lost $0.24 per share in quarter three 2023.
On the revenue line, the company reported $744 thousand, missing estimates by $2.3 million.
In the same quarter a year ago, the company lost $0.3 per share on revenue of $2.4 million.
The stock is down 5.00% to $1.31 after the report.
The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.
The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.
Trading in the five days leading up to the report earned Absci Corp a Bullish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 56. Meanwhile, the average Wall Street analyst rated the stock a Buy.
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.
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Absci Corp Down 5.00% To $1.31 After Earnings Miss
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