Absci Corporation (NASDAQ:ABSI) Given Consensus Rating of “Buy” by Analysts

Absci Corporation (NASDAQ:ABSI) has received an average rating of “Buy” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $8.40.

Several research analysts recently weighed in on ABSI shares. Guggenheim restated a “buy” rating and issued a $10.00 price objective on shares of Absci in a research report on Thursday, March 20th. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Absci in a report on Wednesday, March 19th. Needham & Company LLC restated a “buy” rating and issued a $9.00 price objective on shares of Absci in a report on Wednesday, May 14th. Wall Street Zen upgraded shares of Absci from a “sell” rating to a “hold” rating in a report on Saturday. Finally, KeyCorp boosted their price objective on shares of Absci from $5.00 to $9.00 and gave the stock an “overweight” rating in a report on Wednesday, April 16th.

Institutional Investors Weigh In On Absci

A number of hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Absci by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,800 shares of the company’s stock worth $120,000 after buying an additional 1,976 shares during the period. Ballentine Partners LLC increased its stake in shares of Absci by 35.8% in the first quarter. Ballentine Partners LLC now owns 14,153 shares of the company’s stock worth $36,000 after buying an additional 3,729 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Absci by 14.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,333 shares of the company’s stock worth $77,000 after buying an additional 3,747 shares during the period. Wellington Management Group LLP lifted its holdings in Absci by 1.1% in the 4th quarter. Wellington Management Group LLP now owns 352,805 shares of the company’s stock worth $924,000 after buying an additional 3,951 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Absci by 4.2% in the 4th quarter. Rhumbline Advisers now owns 114,152 shares of the company’s stock worth $299,000 after buying an additional 4,593 shares during the period. 52.05% of the stock is currently owned by institutional investors.

Absci Trading Up 1.5%

ABSI stock opened at $2.79 on Monday. The company’s 50 day moving average is $2.90 and its 200 day moving average is $3.24. The stock has a market cap of $355.89 million, a price-to-earnings ratio of -3.03 and a beta of 2.06. Absci has a 1-year low of $2.01 and a 1-year high of $6.33.

Absci (NASDAQ:ABSI) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.02. The company had revenue of $1.18 million for the quarter, compared to analysts’ expectations of $1.07 million. Absci had a negative net margin of 2,232.13% and a negative return on equity of 53.69%. As a group, sell-side analysts forecast that Absci will post -0.89 EPS for the current fiscal year.

Absci Company Profile

Absci Corporation operates as a data-first generative artificial intelligence (AI) drug creation company in the United States. The company combines AI with scalable wet lab technologies to create biologics for patients. Its integrated drug creation platform is designed to improve upon traditional biologic drug discovery by using AI to simultaneously optimize multiple drug characteristics that may be important to development and therapeutic benefit.