Absci Corporation (NASDAQ:ABSI) Receives $7.66 Average Price Target from Analysts

Absci Corporation (NASDAQ:ABSI) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $7.6640.

Several research firms recently weighed in on ABSI. Weiss Ratings restated a “sell (d-)” rating on shares of Absci in a report on Wednesday, January 21st. Needham & Company LLC reiterated a “buy” rating and set a $7.00 price objective on shares of Absci in a research report on Friday, December 12th. Morgan Stanley lowered shares of Absci from an “overweight” rating to an “equal weight” rating and set a $4.32 target price for the company. in a report on Thursday, January 8th. Finally, HC Wainwright lifted their price target on shares of Absci from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th.

Absci Trading Up 1.0%

Shares of NASDAQ:ABSI opened at $3.02 on Tuesday. The company has a market cap of $454.12 million, a price-to-earnings ratio of -3.36 and a beta of 2.11. Absci has a 12 month low of $2.01 and a 12 month high of $6.33. The company has a 50-day moving average price of $3.35 and a 200 day moving average price of $3.25.

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

Institutional Investors Weigh In On Absci

Several hedge funds and other institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp boosted its holdings in Absci by 41.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 12,317 shares of the company’s stock valued at $37,000 after acquiring an additional 3,638 shares during the period. Legal & General Group Plc lifted its position in shares of Absci by 45.9% during the second quarter. Legal & General Group Plc now owns 11,690 shares of the company’s stock worth $30,000 after purchasing an additional 3,678 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Absci by 20.7% during the third quarter. SG Americas Securities LLC now owns 21,882 shares of the company’s stock valued at $67,000 after purchasing an additional 3,758 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Absci by 91.2% in the second quarter. BNP Paribas Financial Markets now owns 11,287 shares of the company’s stock worth $29,000 after purchasing an additional 5,385 shares during the last quarter. Finally, Alpha Cubed Investments LLC increased its stake in Absci by 31.2% in the 3rd quarter. Alpha Cubed Investments LLC now owns 26,230 shares of the company’s stock worth $80,000 after buying an additional 6,230 shares during the period. 52.05% of the stock is currently 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.