Absci Corporation (NASDAQ:ABSI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Absci Corporation (NASDAQ:ABSI) have received a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $8.5167.

A number of research firms have recently commented on ABSI. BTIG Research began coverage on Absci in a research report on Thursday, May 28th. They set a “buy” rating and a $9.00 target price on the stock. Morgan Stanley set a $4.10 target price on Absci in a research report on Thursday, May 14th. Leerink Partners began coverage on Absci in a research report on Thursday. They set an “outperform” rating and a $12.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Absci in a research report on Monday, April 20th. Finally, Truist Financial raised their target price on Absci from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, May 8th.

Insider Transactions at Absci

In other news, insider Andreas Busch acquired 100,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average cost of $2.29 per share, for a total transaction of $229,000.00. Following the acquisition, the insider owned 421,446 shares in the company, valued at approximately $965,111.34. This represents a 31.11% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.49% of the company’s stock.

Institutional Investors Weigh In On Absci

Several institutional investors have recently bought and sold shares of ABSI. Quarry LP acquired a new stake in Absci in the 3rd quarter worth about $26,000. Essential Partners LLC boosted its holdings in Absci by 113,850.0% in the 1st quarter. Essential Partners LLC now owns 9,116 shares of the company’s stock worth $27,000 after buying an additional 9,108 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Absci by 91.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 11,287 shares of the company’s stock worth $29,000 after buying an additional 5,385 shares during the last quarter. Legal & General Group Plc boosted its holdings in Absci by 45.9% in the 2nd 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. acquired a new stake in Absci in the 3rd quarter worth about $31,000. 52.05% of the stock is currently owned by institutional investors and hedge funds.

Absci Price Performance

ABSI stock opened at $6.40 on Monday. Absci has a 52-week low of $2.24 and a 52-week high of $7.39. The firm has a market cap of $997.76 million, a P/E ratio of -7.71 and a beta of 2.44. The company’s 50-day simple moving average is $4.53 and its 200-day simple moving average is $3.58.

Absci (NASDAQ:ABSI) last posted its earnings results on Thursday, May 7th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. Absci had a negative return on equity of 66.32% and a negative net margin of 6,450.76%.The firm had revenue of $0.22 million for the quarter, compared to analysts’ expectations of $1.39 million. On average, analysts anticipate that Absci will post -0.77 earnings per share for the current fiscal year.

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.