Analysts Set Absci Corporation (NASDAQ:ABSI) Target Price at $12.57

Shares of Absci Corporation (NASDAQ:ABSI) have received a consensus rating of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $13.4286.

A number of research firms have issued reports on ABSI. Leerink Partners assumed coverage on shares of Absci in a research report on Thursday, June 4th. They issued an “outperform” rating and a $12.00 price objective on the stock. Morgan Stanley reiterated a “positive” rating and set a $10.00 target price on shares of Absci in a report on Thursday, June 25th. BTIG Research boosted their price target on Absci from $9.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Wall Street Zen raised shares of Absci from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Absci in a research report on Monday, April 20th.

Absci Trading Up 4.6%

NASDAQ ABSI opened at $11.62 on Friday. The firm has a market cap of $1.81 billion, a PE ratio of -14.00 and a beta of 2.32. Absci has a 1-year low of $2.24 and a 1-year high of $12.06. The stock has a 50-day moving average of $6.58 and a 200-day moving average of $4.28.

Absci (NASDAQ:ABSI) last issued its earnings results on Thursday, May 7th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.01. The company had revenue of $0.21 million for the quarter, compared to the consensus estimate of $1.39 million. Absci had a negative net margin of 6,450.76% and a negative return on equity of 66.32%. As a group, equities research analysts forecast that Absci will post -0.71 earnings per share for the current fiscal year.

Institutional Trading of Absci

Several hedge funds and other institutional investors have recently made changes to their positions in ABSI. Quarry LP bought a new position in Absci during the 3rd quarter valued at approximately $26,000. Essential Partners LLC grew its stake in shares of Absci by 113,850.0% in the first quarter. Essential Partners LLC now owns 9,116 shares of the company’s stock worth $27,000 after acquiring an additional 9,108 shares during the last quarter. Scientech Research LLC purchased a new stake in shares of Absci in the third quarter worth $31,000. Principal Financial Group Inc. bought a new position in shares of Absci during the first quarter valued at $31,000. Finally, Xponance LLC bought a new position in shares of Absci during the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 52.05% of the company’s stock.

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.