Absci (NASDAQ:ABSI) Reaches New 52-Week High – What’s Next?

Absci Corporation (NASDAQ:ABSI)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $8.57 and last traded at $8.40, with a volume of 8351718 shares changing hands. The stock had previously closed at $7.41.

Trending Headlines about Absci

Here are the key news stories impacting Absci this week:

• Positive Sentiment: Absci reported positive interim Phase 1 data for ABS-201 in androgenetic alopecia, saying the antibody was well tolerated, showed no serious adverse events, and had a long half-life that could support infrequent dosing. Absci Announces Positive Interim Phase 1 Data from the HEADLINE Trial
• Positive Sentiment: The company raised about $100 million in an underwritten stock offering, with participation from Eli Lilly, Adage, BVF Partners, Columbia Threadneedle, Invus, and Redmile, providing funding to advance ABS-201 for hair loss and endometriosis. Absci Announces Pricing of $100 Million Underwritten Offering
• Positive Sentiment: Analysts turned more constructive, with Needham reaffirming a buy rating and lifting its target to $11, while BTIG raised its target to $13, reinforcing investor confidence in the stock’s pipeline and recent momentum.
• Neutral Sentiment: Media coverage and market commentary highlighted Absci as a stock mover, reflecting heightened trading interest around the clinical update and financing. Bloomberg Stock Movers podcast

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Morgan Stanley set a $4.10 price target on shares of Absci in a report on Thursday, May 14th. Leerink Partners started coverage on Absci in a research report on Thursday, June 4th. They set an “outperform” rating and a $12.00 price target on the stock. Guggenheim raised their target price on shares of Absci from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price target (up from $7.00) on shares of Absci in a research report on Wednesday. Finally, Truist Financial boosted their price objective on shares of Absci from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.59.

Absci Stock Up 36.0%

The firm has a market cap of $1.57 billion, a PE ratio of -12.14 and a beta of 2.44. The firm’s fifty day simple moving average is $5.66 and its two-hundred day simple moving average is $3.97.

Absci (NASDAQ:ABSI) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. Absci had a negative net margin of 6,450.76% and a negative return on equity of 66.32%. The firm had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $1.39 million. As a group, analysts anticipate that Absci Corporation will post -0.72 earnings per share for the current fiscal year.

Institutional Trading of Absci

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in shares of Absci during the third quarter valued at approximately $26,000. Essential Partners LLC raised its position in shares of Absci by 113,850.0% during the 1st quarter. Essential Partners LLC now owns 9,116 shares of the company’s stock valued at $27,000 after buying an additional 9,108 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Absci by 91.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 11,287 shares of the company’s stock valued at $29,000 after purchasing an additional 5,385 shares during the last quarter. Legal & General Group Plc lifted its position in Absci by 45.9% in the second quarter. Legal & General Group Plc now owns 11,690 shares of the company’s stock worth $30,000 after buying an additional 3,678 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of Absci in the 1st quarter worth about $31,000. Institutional investors 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.