Absci (NASDAQ:ABSI) Sets New 1-Year High – Here’s What Happened

Absci Corporation (NASDAQ:ABSI)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $11.45 and last traded at $11.40, with a volume of 823199 shares traded. The stock had previously closed at $10.89.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Absci in a report on Monday, April 20th. Wall Street Zen raised Absci from a “sell” rating to a “hold” rating in a report on Saturday. HC Wainwright upped their price objective on Absci from $8.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Guggenheim upped their price objective on Absci from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Finally, Leerink Partners began coverage on Absci in a report on Thursday, June 4th. They issued an “outperform” rating and a $12.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.57.

Absci Stock Up 2.1%

The stock has a market capitalization of $1.81 billion, a PE ratio of -13.96 and a beta of 2.44. The business’s 50-day moving average is $6.28 and its two-hundred day moving average is $4.18.

Absci (NASDAQ:ABSI) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.01. Absci had a negative return on equity of 66.32% and a negative net margin of 6,450.76%.The company had revenue of $0.21 million for the quarter, compared to analyst estimates of $1.39 million. As a group, analysts anticipate that Absci Corporation will post -0.71 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ABSI. AQR Capital Management LLC raised its position in Absci by 279.4% in the 1st quarter. AQR Capital Management LLC now owns 55,538 shares of the company’s stock valued at $139,000 after purchasing an additional 40,901 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Absci by 17.5% in the first quarter. Goldman Sachs Group Inc. now owns 314,858 shares of the company’s stock valued at $790,000 after purchasing an additional 46,975 shares during the period. Woodline Partners LP raised its holdings in shares of Absci by 32.9% in the first quarter. Woodline Partners LP now owns 1,391,245 shares of the company’s stock valued at $3,492,000 after buying an additional 344,270 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Absci by 22.5% in the second quarter. Geode Capital Management LLC now owns 2,445,450 shares of the company’s stock valued at $6,286,000 after buying an additional 448,984 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of Absci by 145.4% during the second quarter. Creative Planning now owns 46,882 shares of the company’s stock worth $120,000 after buying an additional 27,775 shares during the period. 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.