Absci Corporation (NASDAQ:ABSI) Receives $13.43 Average Price Target from Analysts

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

Several brokerages recently weighed in on ABSI. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 target price on shares of Absci in a research report on Wednesday, August 12th. Guggenheim boosted their price target on Absci from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, June 15th. HC Wainwright upped their price target on Absci from $8.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Morgan Stanley restated a “positive” rating and set a $10.00 price target on shares of Absci in a research note on Thursday, June 25th. Finally, BTIG Research restated a “buy” rating and issued a $13.00 price objective on shares of Absci in a report on Wednesday, August 12th.

Absci Stock Performance

Shares of ABSI stock opened at $9.55 on Friday. Absci has a one year low of $2.24 and a one year high of $12.06. The company has a 50 day moving average price of $9.12 and a 200 day moving average price of $5.72. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -11.94 and a beta of 2.35.

Absci (NASDAQ:ABSI) last posted its quarterly 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 return on equity of 61.71% and a negative net margin of 7,756.38%.The company had revenue of $0.32 million for the quarter, compared to analysts’ expectations of $0.92 million. As a group, equities analysts forecast that Absci will post -0.71 EPS for the current fiscal year.

Institutional Trading of Absci

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new position in Absci during the third quarter valued at approximately $26,000. Essential Partners LLC grew its stake in Absci by 113,850.0% during the first 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 period. BNP Paribas Financial Markets increased its position 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 acquiring an additional 5,385 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Absci by 45.9% in the 2nd quarter. Legal & General Group Plc now owns 11,690 shares of the company’s stock valued at $30,000 after acquiring an additional 3,678 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in shares of Absci in the 1st quarter valued at $31,000. 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.