Absci Corporation (NASDAQ:ABSI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Absci Corporation (NASDAQ:ABSI) have been given an average rating of “Moderate Buy” by the seven brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $7.9780.

Several research analysts have commented on the company. JPMorgan Chase & Co. began coverage on Absci in a research report on Thursday, October 2nd. They issued an “overweight” rating on the stock. HC Wainwright boosted their price target on Absci from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Absci in a research report on Friday, December 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Absci in a research note on Wednesday, October 8th.

Absci Price Performance

Shares of NASDAQ ABSI opened at $3.49 on Friday. Absci has a 12-month low of $2.01 and a 12-month high of $6.33. The company has a market capitalization of $524.79 million, a PE ratio of -3.88 and a beta of 2.11. The firm’s 50-day moving average is $3.48 and its two-hundred day moving average is $3.16.

Absci (NASDAQ:ABSI) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Absci had a negative net margin of 4,071.19% and a negative return on equity of 60.19%. The business had revenue of $0.38 million during the quarter, compared to analyst estimates of $1.58 million. On average, analysts forecast that Absci will post -0.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Absci

Several institutional investors and hedge funds have recently made changes to their positions in the business. American Century Companies Inc. increased its stake in shares of Absci by 9.5% in the first quarter. American Century Companies Inc. now owns 165,178 shares of the company’s stock worth $415,000 after buying an additional 14,343 shares during the last quarter. Walleye Capital LLC increased its position in shares of Absci by 20.6% in the 1st quarter. Walleye Capital LLC now owns 76,226 shares of the company’s stock worth $191,000 after purchasing an additional 13,038 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Absci in the 1st quarter valued at about $724,000. AQR Capital Management LLC grew its stake in Absci by 279.4% in the first quarter. AQR Capital Management LLC now owns 55,538 shares of the company’s stock worth $139,000 after purchasing an additional 40,901 shares in the last quarter. Finally, Banque Transatlantique SA bought a new stake in Absci in the first quarter valued at about $28,000. 52.05% of the stock is currently owned by hedge funds and other institutional investors.

Absci Company Profile

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.