Absci Corporation (NASDAQ:ABSI) Receives $7.98 Average PT from Analysts

Absci Corporation (NASDAQ:ABSI) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $7.9780.

Several research firms have weighed in on ABSI. JPMorgan Chase & Co. started coverage on shares of Absci in a report on Thursday, October 2nd. They set an “overweight” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Absci in a research report on Wednesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 target price on shares of Absci in a research note on Friday, December 12th. Finally, HC Wainwright raised their price target on Absci from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th.

Absci Stock Performance

ABSI opened at $3.90 on Friday. The company has a market cap of $586.44 million, a price-to-earnings ratio of -4.33 and a beta of 2.11. Absci has a one year low of $2.01 and a one year high of $6.33. The business’s fifty day moving average is $3.44 and its two-hundred day moving average is $3.19.

Absci (NASDAQ:ABSI) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Absci had a negative net margin of 4,071.19% and a negative return on equity of 60.19%. The firm had revenue of $0.38 million during the quarter, compared to analysts’ expectations of $1.58 million. On average, analysts predict that Absci will post -0.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in shares of Absci by 9.5% during the 1st quarter. American Century Companies Inc. now owns 165,178 shares of the company’s stock worth $415,000 after purchasing an additional 14,343 shares during the last quarter. Walleye Capital LLC boosted its position in Absci by 20.6% during the first quarter. Walleye Capital LLC now owns 76,226 shares of the company’s stock worth $191,000 after acquiring an additional 13,038 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Absci in the 1st quarter worth approximately $724,000. AQR Capital Management LLC raised its holdings in Absci by 279.4% in the 1st 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 last quarter. Finally, Banque Transatlantique SA acquired a new position in Absci in the 1st quarter valued at $28,000. Institutional investors and hedge funds own 52.05% of the company’s stock.

About Absci

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.