Absci (NASDAQ:ABSI) Upgraded at Wall Street Zen

Absci (NASDAQ:ABSI) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other research firms also recently commented on ABSI. BTIG Research increased their price objective on shares of Absci from $9.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $11.00 price objective (up from $7.00) on shares of Absci in a report on Wednesday. Morgan Stanley reaffirmed a “positive” rating and issued a $10.00 target price on shares of Absci in a research report on Thursday. Guggenheim upped their target price on Absci from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Finally, HC Wainwright raised their price target on Absci from $8.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Absci currently has an average rating of “Moderate Buy” and an average target price of $12.57.

Absci Stock Up 6.6%

Shares of ABSI stock opened at $10.88 on Friday. Absci has a 12 month low of $2.24 and a 12 month high of $11.36. The company’s fifty day simple moving average is $5.96 and its 200-day simple moving average is $4.06. The firm has a market cap of $1.70 billion, a PE ratio of -13.11 and a beta of 2.44.

Absci (NASDAQ:ABSI) last released its earnings results on Thursday, May 7th. The company reported ($0.19) earnings per share for the quarter, beating 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 business had revenue of $0.21 million during the quarter, compared to the consensus estimate of $1.39 million. On average, equities analysts predict that Absci will post -0.72 earnings per share for the current fiscal year.

Institutional Trading of Absci

A number of large investors have recently added to or reduced their stakes in ABSI. ARK Investment Management LLC raised its position in shares of Absci by 21.1% in the third quarter. ARK Investment Management LLC now owns 12,162,773 shares of the company’s stock valued at $36,975,000 after purchasing an additional 2,116,845 shares during the period. Heights Capital Management Inc. bought a new stake in shares of Absci during the 3rd quarter worth about $6,081,000. UBS Group AG grew its stake in Absci by 35.4% in the 4th quarter. UBS Group AG now owns 2,699,505 shares of the company’s stock valued at $9,421,000 after buying an additional 706,396 shares during the last quarter. Baker BROS. Advisors LP acquired a new position in Absci in the 4th quarter valued at about $7,450,000. Finally, Platinum Investment Management Ltd. bought a new position in Absci in the 4th quarter valued at about $830,000. Institutional investors and hedge funds own 52.05% of the company’s stock.

Absci News Roundup

Here are the key news stories impacting Absci this week:

• Positive Sentiment: Absci reported positive interim Phase I data for ABS-201, with tolerability and dosing characteristics that strengthen the case for further development. ABSI Soars 36% on Positive Interim Update From Phase I Hair Loss Study
• Positive Sentiment: Sentiment remains constructive, with analysts describing the stock as a “Moderate Buy,” which can support momentum after the recent run-up. Absci Corporation Given Consensus Rating of Moderate Buy by Analysts
• Positive Sentiment: The stock has also been highlighted after reaching a fresh 52-week high, reinforcing the strength of the recent rally. Absci Reaches New 52-Week High
• Neutral Sentiment: Some coverage notes conflicting analyst views on Absci, suggesting the market may remain volatile as investors weigh the drug pipeline against execution risk. Analysts Have Conflicting Sentiments on These Healthcare Companies
• Neutral Sentiment: Another brief report also pointed to mixed analyst sentiment, underscoring that the stock’s move is being driven more by pipeline news than by fundamental consensus. Analysts Have Conflicting Sentiments on These Healthcare Companies
• Negative Sentiment: One commentary warned that recent earnings estimate revisions do not suggest much additional near-term upside, which could temper expectations after the sharp rally. ABSCI CORP Soars 36.0%: Is Further Upside Left in the Stock?

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.