Absci Corporation (NASDAQ:ABSI) Receives $13.71 Consensus Price Target from Analysts

Absci Corporation (NASDAQ:ABSI) has received an average rating of “Moderate Buy” from the ten research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $13.7143.

ABSI has been the topic of several research analyst reports. Guggenheim lifted their price objective on Absci from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, June 15th. HC Wainwright raised their target price on Absci from $8.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Truist Financial raised their target price on Absci from $11.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. BTIG Research set a $15.00 price target on Absci and gave the stock a “buy” rating in a research note on Tuesday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Absci in a research report on Friday, July 17th.

Institutional Investors Weigh In On Absci

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in shares of Absci in the third quarter valued at about $26,000. Essential Partners LLC lifted 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 buying an additional 9,108 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Absci by 91.2% during 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 during the last quarter. Legal & General Group Plc grew its stake in Absci by 45.9% during 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 in the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in Absci in the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 52.05% of the company’s stock.

Absci Stock Down 0.4%

Shares of NASDAQ ABSI opened at $8.21 on Wednesday. The company’s 50-day simple moving average is $8.97 and its 200-day simple moving average is $6.37. Absci has a 52-week low of $2.24 and a 52-week high of $12.06. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -10.26 and a beta of 2.42.

Absci (NASDAQ:ABSI) last released its quarterly earnings results 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 company had revenue of $0.32 million for the quarter, compared to analyst estimates 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 anticipate that Absci will post -0.74 EPS for the current fiscal year.

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.