Absci’s (ABSI) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Absci (NASDAQ:ABSI) in a report released on Monday morning,Benzinga reports. HC Wainwright currently has a $16.00 target price on the stock.

Several other brokerages also recently commented on ABSI. Morgan Stanley restated a “positive” rating and issued a $10.00 price objective on shares of Absci in a research report on Thursday, June 25th. Guggenheim reaffirmed a “buy” rating on shares of Absci in a research note on Monday, September 28th. Wall Street Zen upgraded Absci from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. BTIG Research set a $15.00 target price on Absci and gave the stock a “buy” rating in a research report on Tuesday, September 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Absci in a research note on Friday, July 17th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $13.88.

Absci Stock Performance

ABSI opened at $8.74 on Monday. Absci has a fifty-two week low of $2.24 and a fifty-two week high of $12.06. The firm’s fifty day moving average is $9.34 and its 200 day moving average is $7.53. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -10.92 and a beta of 2.27.

Absci (NASDAQ:ABSI) last issued its 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). Absci had a negative return on equity of 61.71% and a negative net margin of 7,756.38%. The firm had revenue of $0.32 million during the quarter, compared to the consensus estimate of $0.92 million. On average, equities research analysts predict that Absci will post -0.74 earnings per share for the current year.

Hedge Funds Weigh In On Absci

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Absci in the 2nd quarter worth $141,112,000. Parkman Healthcare Partners LLC bought a new position in shares of Absci during the 2nd quarter valued at about $10,366,000. Baker BROS. Advisors LP bought a new position in shares of Absci during the 4th quarter valued at about $7,450,000. Bank of America Corp DE bought a new position in shares of Absci during the 2nd quarter valued at about $6,560,000. Finally, Siren L.L.C. purchased a new position in shares of Absci during the first quarter valued at about $5,400,000. Institutional investors own 52.05% of the company’s stock.

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.