Absci Corporation (NASDAQ:ABSI) Receives $7.66 Consensus PT from Brokerages

Shares of Absci Corporation (NASDAQ:ABSI) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $7.6640.

A number of equities analysts recently commented on ABSI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Absci in a research report on Wednesday, January 21st. Morgan Stanley downgraded Absci from an “overweight” rating to an “equal weight” rating and set a $4.32 price objective on the stock. in a report on Thursday, January 8th. Needham & Company LLC restated a “buy” rating and set a $7.00 target price on shares of Absci in a report on Friday, December 12th. Finally, HC Wainwright raised their price target on Absci from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th.

Institutional Investors Weigh In On Absci

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Absci in the 3rd quarter worth $26,000. BNP Paribas Financial Markets boosted its holdings in shares of Absci by 91.2% during the second quarter. BNP Paribas Financial Markets now owns 11,287 shares of the company’s stock worth $29,000 after purchasing an additional 5,385 shares during the period. Legal & General Group Plc boosted its holdings in shares of Absci by 45.9% during the second quarter. Legal & General Group Plc now owns 11,690 shares of the company’s stock worth $30,000 after purchasing an additional 3,678 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Absci in the third quarter worth about $31,000. Finally, HB Wealth Management LLC purchased a new position in Absci during the 3rd quarter valued at about $31,000. 52.05% of the stock is currently owned by institutional investors.

Absci Price Performance

NASDAQ:ABSI opened at $2.99 on Tuesday. The business has a 50 day moving average of $3.35 and a 200 day moving average of $3.24. The company has a market capitalization of $449.61 million, a price-to-earnings ratio of -3.32 and a beta of 2.11. Absci has a 1-year low of $2.01 and a 1-year high of $6.33.

Absci (NASDAQ:ABSI) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The business had revenue of $0.38 million for the quarter, compared to the consensus estimate of $1.58 million. Absci had a negative net margin of 4,071.19% and a negative return on equity of 60.19%. As a group, sell-side analysts anticipate that Absci will post -0.89 EPS for the current 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.