Absci Corporation (ABSI) – What Are Analysts Thinking About This Stock?

Absci Corporation (NASDAQ:ABSI) has been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and eleven have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $14.50.

A number of research analysts recently commented on the company. KeyCorp raised their price target on Absci from $16.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, October 16th. Jefferies Financial Group began coverage on Absci in a report on Thursday, October 29th. They issued a “buy” rating and a $14.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of Absci in a report on Wednesday, September 23rd. Wall Street Zen upgraded Absci from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, HC Wainwright restated a “buy” rating on shares of Absci in a research report on Tuesday, October 20th.

Absci Trading Up 4.8%

Shares of ABSI stock opened at $10.48 on Thursday. Absci has a 12 month low of $2.24 and a 12 month high of $12.54. The stock has a market capitalization of $1.80 billion, a P/E ratio of -13.10 and a beta of 2.22. The firm’s 50 day moving average is $9.55 and its 200 day moving average is $6.57.

Absci (NASDAQ:ABSI) last posted 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 for the quarter, compared to analysts’ expectations of $0.92 million. On average, equities analysts predict that Absci will post -0.76 EPS for the current year.

Institutional Investors Weigh In On Absci

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Absci in the second quarter valued at $141,112,000. Siren L.L.C. acquired a new position in Absci during the 1st quarter worth $5,400,000. Parkman Healthcare Partners LLC purchased a new stake in Absci during the 2nd quarter worth about $10,366,000. Bank of America Corp DE purchased a new stake in Absci during the 2nd quarter worth about $6,560,000. Finally, Artia Global Partners LP purchased a new stake in Absci during the 2nd quarter worth about $5,383,000. 52.05% of the stock is currently owned by institutional investors.

Absci Company Profile

Absci Corporation (NASDAQ: ABSI) is a biotechnology company that uses generative artificial intelligence and advanced biotechnology to discover and develop new medicines. Its integrated drug creation platform combines computational design with laboratory-based validation to identify potential therapeutic candidates, with a focus on biologics such as antibodies and other protein-based medicines.

The company’s technology is designed to support the creation of novel drug candidates from the earliest stages of discovery through preclinical development.