Guggenheim Reiterates “Buy” Rating for Absci (NASDAQ:ABSI)

Guggenheim reiterated their buy rating on shares of Absci (NASDAQ:ABSI) in a research report released on Thursday,Benzinga reports. Guggenheim currently has a $10.00 price target on the stock.

A number of other analysts also recently issued reports on ABSI. Needham & Company LLC reiterated a “buy” rating and set a $9.00 price target on shares of Absci in a research report on Wednesday. KeyCorp dropped their target price on shares of Absci from $6.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Absci in a report on Wednesday. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $8.57.

Absci Stock Performance

NASDAQ ABSI opened at $3.04 on Thursday. The company’s 50 day simple moving average is $3.86 and its two-hundred day simple moving average is $3.67. 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 has a 1 year low of $2.45 and a 1 year high of $6.72. The stock has a market capitalization of $349.16 million, a PE ratio of -3.27 and a beta of 2.09.

Absci (NASDAQ:ABSI) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. The business had revenue of $0.67 million during the quarter, compared to analysts’ expectations of $1.77 million. Analysts predict that Absci will post -0.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Absci

Institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. raised its position in Absci by 5.9% in the 3rd quarter. Victory Capital Management Inc. now owns 150,562 shares of the company’s stock worth $575,000 after purchasing an additional 8,388 shares during the period. King Luther Capital Management Corp purchased a new position in shares of Absci in the third quarter worth about $296,000. Intech Investment Management LLC bought a new stake in shares of Absci in the 3rd quarter valued at about $86,000. Charles Schwab Investment Management Inc. boosted its holdings in Absci by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 697,849 shares of the company’s stock valued at $2,666,000 after acquiring an additional 11,602 shares during the period. Finally, FMR LLC boosted its holdings in Absci by 1.2% during the 3rd quarter. FMR LLC now owns 12,727,760 shares of the company’s stock valued at $48,620,000 after acquiring an additional 147,156 shares during the period. Hedge funds and other institutional investors own 52.05% of the company’s stock.

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.