Absci (NASDAQ:ABSI) Shares Gap Up After Analyst Upgrade

Absci Corporation (NASDAQ:ABSI) shares gapped up prior to trading on Wednesday after HC Wainwright raised their price target on the stock from $8.00 to $16.00. The stock had previously closed at $7.41, but opened at $9.51. HC Wainwright currently has a buy rating on the stock. Absci shares last traded at $8.92, with a volume of 12,858,146 shares trading hands.

ABSI has been the subject of a number of other reports. Guggenheim boosted their target price on Absci from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Leerink Partners began coverage on Absci in a report on Thursday, June 4th. They set an “outperform” rating and a $12.00 price objective on the stock. BTIG Research boosted their price objective on Absci from $9.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $11.00 target price (up from $7.00) on shares of Absci in a research note on Wednesday. Finally, Truist Financial raised their target price on shares of Absci from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.57.

Key Absci News

Here are the key news stories impacting Absci this week:

• Positive Sentiment: Absci reported positive interim Phase 1 data for ABS-201 in its HEADLINE trial, saying the drug was well tolerated across single-ascending-dose cohorts with no serious adverse events and a long estimated half-life that could support infrequent dosing. Article: Absci Announces Positive Interim Phase 1 Data from the HEADLINE Trial of ABS-201
• Positive Sentiment: The company said the data advanced the study into the multiple-ascending-dose phase, keeping the ABS-201 hair-loss program on track for additional proof-of-concept readouts later in 2026 and early 2027. Article: ABSI Soars 36% on Positive Interim Update From Phase I Hair Loss Study
• Positive Sentiment: Absci also priced a $100 million underwritten offering, with participation from Eli Lilly and other institutional investors, providing capital to fund ABS-201 development across androgenetic alopecia and endometriosis. Article: Absci Announces Pricing of $100 Million Underwritten Offering
• Neutral Sentiment: Analyst updates were mixed but generally supportive, with Needham and BTIG both reiterating buy ratings and raising price targets, which may help reinforce the recent momentum in ABSI shares.
• Neutral Sentiment: Absci reached a new 52-week high and saw heavy trading volume, suggesting the stock’s move is being driven by strong investor reaction to the clinical and financing news.
• Negative Sentiment: The share sale introduces dilution, and some commentary noted that further upside may depend on whether later-stage data continues to validate the early encouraging results.

Hedge Funds Weigh In On Absci

A number of large investors have recently bought and sold shares of the company. HB Wealth Management LLC raised its holdings in shares of Absci by 28.4% in the first quarter. HB Wealth Management LLC now owns 12,942 shares of the company’s stock valued at $39,000 after purchasing an additional 2,862 shares during the last quarter. Legal & General Group Plc boosted its holdings in 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. Deutsche Bank AG grew its position in Absci by 5.6% in the fourth quarter. Deutsche Bank AG now owns 92,148 shares of the company’s stock valued at $322,000 after purchasing an additional 4,892 shares in the last quarter. BNP Paribas Financial Markets grew its position in Absci by 91.2% in the second quarter. BNP Paribas Financial Markets now owns 11,287 shares of the company’s stock valued at $29,000 after purchasing an additional 5,385 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Absci by 14.3% in the 4th quarter. Invesco Ltd. now owns 54,550 shares of the company’s stock valued at $190,000 after buying an additional 6,826 shares during the last quarter. Institutional investors and hedge funds own 52.05% of the company’s stock.

Absci Trading Up 1.4%

The firm’s 50 day simple moving average is $5.80 and its 200-day simple moving average is $4.01. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -12.30 and a beta of 2.44.

Absci (NASDAQ:ABSI) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. The company had revenue of $0.21 million during 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 predict that Absci Corporation will post -0.72 earnings per share for the current year.

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.