Absci Co. (NASDAQ:ABSI) Receives $8.57 Average PT from Brokerages

Shares of Absci Co. (NASDAQ:ABSI) have received a consensus rating of “Buy” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $8.57.

Several equities research analysts recently issued reports on the company. Guggenheim reiterated a “buy” rating and issued a $10.00 price target on shares of Absci in a research note on Tuesday, December 3rd. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of Absci in a report on Friday, January 17th. KeyCorp dropped their price target on Absci from $6.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, Needham & Company LLC assumed coverage on shares of Absci in a research note on Wednesday, January 22nd. They set a “buy” rating and a $9.00 price objective on the stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. ARK Investment Management LLC grew its holdings in shares of Absci by 30.4% during the 4th quarter. ARK Investment Management LLC now owns 8,265,936 shares of the company’s stock valued at $21,657,000 after purchasing an additional 1,928,314 shares during the last quarter. Fred Alger Management LLC boosted its position in Absci by 4.3% in the third quarter. Fred Alger Management LLC now owns 7,566,618 shares of the company’s stock valued at $28,904,000 after buying an additional 309,843 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Absci by 28.5% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,829 shares of the company’s stock worth $2,997,000 after buying an additional 253,985 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Absci during the fourth quarter worth $508,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Absci in the 3rd quarter valued at $724,000. Institutional investors own 52.05% of the company’s stock.

Absci Stock Up 0.2 %

ABSI stock opened at $4.72 on Tuesday. The business’s fifty day moving average price is $3.33 and its two-hundred day moving average price is $3.69. The stock has a market capitalization of $542.14 million, a price-to-earnings ratio of -5.08 and a beta of 2.11. Absci has a fifty-two week low of $2.45 and a fifty-two week high of $6.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63.

Absci (NASDAQ:ABSI) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. The business had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.77 million. During the same period in the prior year, the business posted ($0.24) earnings per share. On average, equities analysts anticipate 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.