Absci (NASDAQ:ABSI – Get Free Report) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.
Several other research firms also recently weighed in on ABSI. Guggenheim reiterated a “buy” rating and set a $10.00 target price on shares of Absci in a research report on Thursday, March 20th. Needham & Company LLC reiterated a “buy” rating and set a $9.00 target price on shares of Absci in a research report on Wednesday, May 14th. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Absci in a research report on Wednesday, March 19th. Finally, KeyCorp increased their target price on Absci from $5.00 to $9.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $8.40.
Check Out Our Latest Analysis on ABSI
Absci Stock Performance
Absci (NASDAQ:ABSI – Get Free Report) last released its earnings results 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. Absci had a negative return on equity of 53.69% and a negative net margin of 2,232.13%. The firm had revenue of $1.18 million for the quarter, compared to the consensus estimate of $1.07 million. As a group, equities analysts predict that Absci will post -0.89 EPS for the current year.
Hedge Funds Weigh In On Absci
A number of large investors have recently modified their holdings of ABSI. ARK Investment Management LLC raised its holdings in shares of Absci by 32.5% in the 1st quarter. ARK Investment Management LLC now owns 10,955,089 shares of the company’s stock worth $27,497,000 after purchasing an additional 2,689,153 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of Absci in the 1st quarter worth about $5,792,000. Royce & Associates LP raised its holdings in shares of Absci by 472.1% in the 4th quarter. Royce & Associates LP now owns 882,096 shares of the company’s stock worth $2,311,000 after purchasing an additional 727,905 shares during the period. Nuveen LLC purchased a new position in shares of Absci in the 1st quarter worth about $1,251,000. Finally, Two Sigma Advisers LP raised its holdings in shares of Absci by 191.9% in the 4th quarter. Two Sigma Advisers LP now owns 676,400 shares of the company’s stock worth $1,772,000 after purchasing an additional 444,700 shares during the period. 52.05% of the stock is currently owned by hedge funds and other institutional investors.
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.
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