Absci Corporation (ABSI) Reports Q3 Loss, Misses Revenue Estimates

Core Viewpoint - Absci Corporation reported a quarterly loss of $0.24 per share, which was worse than the Zacks Consensus Estimate of a loss of$0.19, marking an earnings surprise of -26.32% [1][2] Financial Performance - The company posted revenues of $1.7 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 4.01$0.74 million a year ago [2] - Absci Corporation has not surpassed consensus EPS estimates over the last four quarters [2] - The current consensus EPS estimate for the upcoming quarter is -$0.19 on revenues of$2.33 million, and for the current fiscal year, it is -$0.80 on revenues of$6.47 million [7] Stock Performance - Absci Corporation shares have increased by approximately 1.9% since the beginning of the year, while the S&P 500 has gained 25.8% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the market in the near future [6] Industry Outlook - The Medical - Biomedical and Genetics industry, to which Absci Corporation belongs, is currently in the top 29% of over 250 Zacks industries, suggesting a favorable outlook [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor decisions [5]