Absci Corporation (NASDAQ:ABSI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Absci Corporation (NASDAQ:ABSI) have earned an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $13.71.

ABSI has been the topic of a number of recent analyst reports. Guggenheim reissued a “buy” rating on shares of Absci in a research report on Monday, September 28th. Lifesci Capital assumed coverage on shares of Absci in a research report on Wednesday, September 9th. They issued an “outperform” rating for the company. Truist Financial upped their price objective on shares of Absci from $11.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Wall Street Zen raised Absci from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, HC Wainwright lifted their target price on Absci from $8.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, June 25th.

Institutional Investors Weigh In On Absci

A number of hedge funds have recently modified their holdings of the business. WINTON GROUP Ltd bought a new position in shares of Absci during the 2nd quarter valued at about $445,000. Engineers Gate Manager LP bought a new stake in Absci during the 2nd quarter worth approximately $305,000. Integrated Wealth Concepts LLC acquired a new stake in Absci during the 2nd quarter worth approximately $53,000. Corient Private Wealth LP acquired a new stake in Absci during the 2nd quarter worth approximately $270,000. Finally, AXQ Capital LP lifted its stake in Absci by 10.5% in the second quarter. AXQ Capital LP now owns 36,000 shares of the company’s stock valued at $417,000 after buying an additional 3,435 shares in the last quarter. Institutional investors and hedge funds own 52.05% of the company’s stock.

Absci Price Performance

Shares of NASDAQ:ABSI opened at $8.94 on Friday. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -11.17 and a beta of 2.27. The firm’s 50 day simple moving average is $9.24 and its 200 day simple moving average is $7.35. Absci has a fifty-two week low of $2.24 and a fifty-two week high of $12.06.

Absci (NASDAQ:ABSI) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The firm had revenue of $0.32 million for the quarter, compared to the consensus estimate of $0.92 million. Absci had a negative return on equity of 61.71% and a negative net margin of 7,756.38%. Equities research analysts expect that Absci will post -0.74 earnings per share for the current year.

About Absci

Absci Corporation is a biotechnology company that uses generative artificial intelligence and integrated laboratory technologies to discover and develop new medicines. The company focuses primarily on biologics, including antibody-based therapies, and aims to accelerate the process of moving from drug concept to candidate development.

Absci’s platform combines artificial intelligence models with biological data generation and laboratory experimentation. Its capabilities include protein and antibody design, target and candidate evaluation, and the development of cell lines and manufacturing processes intended to support biologic drug production.