Analysts Set Absci Corporation (NASDAQ:ABSI) Price Target at $8.40

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

A number of research analysts have recently commented on ABSI shares. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Absci in a research report on Wednesday, March 19th. Wall Street Zen lowered shares of Absci from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. Guggenheim restated a “buy” rating and set a $10.00 price target on shares of Absci in a research report on Thursday, March 20th. Needham & Company LLC restated a “buy” rating and set a $9.00 price target on shares of Absci in a research report on Wednesday, May 14th. Finally, KeyCorp boosted their price target on shares of Absci from $5.00 to $9.00 and gave the company an “overweight” rating in a research report on Wednesday, April 16th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. bought a new stake in Absci in the first quarter worth $26,000. Neuberger Berman Group LLC purchased a new position in shares of Absci during the first quarter valued at about $26,000. BNP Paribas Financial Markets purchased a new position in shares of Absci during the fourth quarter valued at about $28,000. Banque Transatlantique SA purchased a new position in shares of Absci during the first quarter valued at about $28,000. Finally, AssuredPartners Investment Advisors LLC purchased a new position in shares of Absci during the first quarter valued at about $29,000. 52.05% of the stock is currently owned by hedge funds and other institutional investors.

Absci Trading Up 1.5%

NASDAQ:ABSI opened at $2.75 on Monday. The stock has a market capitalization of $350.79 million, a PE ratio of -2.99 and a beta of 2.06. The firm’s 50 day moving average is $2.89 and its 200 day moving average is $3.25. Absci has a 12 month low of $2.01 and a 12 month high of $6.33.

Absci (NASDAQ:ABSI) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.02. Absci had a negative net margin of 2,232.13% and a negative return on equity of 53.69%. The business had revenue of $1.18 million during the quarter, compared to analyst estimates of $1.07 million. Research analysts predict that Absci will post -0.89 earnings per share for the current 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.