Absci (NASDAQ:ABSI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Absci (NASDAQ:ABSI) from a sell rating to a hold rating in a research report released on Saturday.

A number of other research analysts have also recently commented on ABSI. Morgan Stanley restated a “positive” rating and set a $10.00 price target on shares of Absci in a research note on Thursday, June 25th. Truist Financial boosted their price target on shares of Absci from $11.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Absci in a research note on Friday, July 17th. BTIG Research reaffirmed a “buy” rating and set a $13.00 target price on shares of Absci in a research note on Wednesday, August 12th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Absci in a research report on Wednesday, August 12th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.43.

Absci Stock Performance

Shares of Absci stock opened at $9.24 on Friday. The stock has a 50 day moving average of $8.90 and a 200 day moving average of $5.56. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -11.55 and a beta of 2.35. Absci has a fifty-two week low of $2.24 and a fifty-two week high of $12.06.

Absci (NASDAQ:ABSI) last posted its earnings results on Tuesday, August 11th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Absci had a negative net margin of 7,756.38% and a negative return on equity of 61.71%. The business had revenue of $0.32 million during the quarter, compared to analysts’ expectations of $0.92 million. Analysts forecast that Absci will post -0.71 EPS for the current year.

Institutional Investors Weigh In On Absci

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its holdings in shares of Absci by 279.4% in the first quarter. AQR Capital Management LLC now owns 55,538 shares of the company’s stock valued at $139,000 after acquiring an additional 40,901 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Absci by 17.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 314,858 shares of the company’s stock valued at $790,000 after acquiring an additional 46,975 shares during the period. Woodline Partners LP raised its position in Absci by 32.9% in the 1st quarter. Woodline Partners LP now owns 1,391,245 shares of the company’s stock valued at $3,492,000 after purchasing an additional 344,270 shares during the last quarter. Geode Capital Management LLC raised its position in Absci by 22.5% in the 2nd quarter. Geode Capital Management LLC now owns 2,445,450 shares of the company’s stock valued at $6,286,000 after purchasing an additional 448,984 shares during the last quarter. Finally, Creative Planning boosted its stake in Absci by 145.4% during the 2nd quarter. Creative Planning now owns 46,882 shares of the company’s stock worth $120,000 after purchasing an additional 27,775 shares during the period. 52.05% of the stock is owned by hedge funds and other institutional investors.

Absci Company Profile

Absci Corporation (NASDAQ: ABSI) is a biotechnology company that applies machine learning, synthetic biology and automation to accelerate the discovery and development of protein-based therapeutics. The company’s Integrated Drug Creation® (IDC®) platform is designed to identify and produce novel antibody and enzyme candidates at speeds and scales that traditional biopharma discovery methods cannot match. Absci works with pharmaceutical and biotechnology partners to generate, screen and optimize protein molecules for a wide range of therapeutic applications.

The core of Absci’s offering is its end-to-end discovery engine, which combines proprietary algorithms, high-throughput laboratory automation and a deep learning framework.