Absci Corporation (NASDAQ:ABSI) Receives $13.71 Average PT from Brokerages

Absci Corporation (NASDAQ:ABSI) has been assigned an average rating of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $13.7143.

A number of brokerages have recently commented on ABSI. Morgan Stanley reissued a “positive” rating and issued a $10.00 price target on shares of Absci in a report on Thursday, June 25th. HC Wainwright lifted their price objective on shares of Absci from $8.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Lifesci Capital started coverage on shares of Absci in a research report on Wednesday, September 9th. They issued an “outperform” rating for the company. Wall Street Zen raised Absci from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Guggenheim increased their target price on Absci from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, June 15th.

Hedge Funds Weigh In On Absci

Several institutional investors have recently modified their holdings of ABSI. Essential Partners LLC lifted its position in Absci by 113,850.0% in the 1st quarter. Essential Partners LLC now owns 9,116 shares of the company’s stock worth $27,000 after buying an additional 9,108 shares during the last quarter. Principal Financial Group Inc. bought a new position in Absci during the first quarter valued at approximately $31,000. HB Wealth Management LLC raised its stake in shares of Absci by 28.4% during the first quarter. HB Wealth Management LLC now owns 12,942 shares of the company’s stock worth $39,000 after acquiring an additional 2,862 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Absci during the second quarter worth approximately $53,000. Finally, Persistent Asset Partners Ltd bought a new stake in shares of Absci in the 2nd quarter worth approximately $123,000. 52.05% of the stock is currently owned by institutional investors.

Absci Trading Down 1.9%

Shares of NASDAQ ABSI opened at $7.94 on Wednesday. Absci has a 12 month low of $2.24 and a 12 month high of $12.06. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -9.93 and a beta of 2.42. The business has a 50-day moving average of $8.84 and a 200-day moving average of $6.47.

Absci (NASDAQ:ABSI) last announced its earnings results on Tuesday, August 11th. The company reported ($0.21) earnings per share 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 company had revenue of $0.32 million during the quarter, compared to analysts’ expectations of $0.92 million. On average, analysts predict that Absci will post -0.74 earnings per share for the current year.

Absci Company Profile

Absci Corporation is a biotechnology company that uses artificial intelligence and integrated laboratory technologies to discover and develop new biologic medicines. Its platform combines generative artificial intelligence with biological data and wet-lab experimentation to design therapeutic proteins and antibodies, with the goal of improving the speed and efficiency of drug development.

The company’s capabilities include target discovery, protein design, antibody generation, and experimental validation.