Analysts Set Absci Co. (NASDAQ:ABSI) PT at $8.40

Absci Co. (NASDAQ:ABSI) has received an average recommendation of “Buy” from the five analysts that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have issued a report on the stock in the last year is $8.40.

A number of brokerages have recently issued reports on ABSI. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Absci in a research report on Wednesday, March 19th. Wall Street Zen upgraded Absci from a “sell” rating to a “hold” rating in a research report on Thursday. KeyCorp boosted their target price on Absci from $5.00 to $9.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 16th. Needham & Company LLC restated a “buy” rating and issued a $9.00 target price on shares of Absci in a research report on Wednesday, May 14th. Finally, Guggenheim restated a “buy” rating and issued a $10.00 target price on shares of Absci in a research report on Thursday, March 20th.

Institutional Trading of Absci

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Alpha Cubed Investments LLC bought a new stake in Absci in the fourth quarter valued at approximately $26,000. Cambridge Investment Research Advisors Inc. bought a new stake in Absci in the first quarter valued at approximately $26,000. Ballentine Partners LLC bought a new stake in Absci in the fourth quarter valued at approximately $27,000. Neuberger Berman Group LLC purchased a new position in shares of Absci during the first quarter valued at approximately $26,000. Finally, BNP Paribas Financial Markets purchased a new stake in Absci in the fourth quarter worth $28,000. Institutional investors own 52.05% of the company’s stock.

Absci Price Performance

ABSI stock opened at $2.66 on Thursday. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $339.31 million, a PE ratio of -2.86 and a beta of 2.19. Absci has a twelve month low of $2.01 and a twelve month high of $6.33. The stock has a 50-day simple moving average of $2.83 and a two-hundred day simple moving average of $3.29.

Absci (NASDAQ:ABSI) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.02. The firm had revenue of $1.18 million during the quarter, compared to the consensus estimate of $1.07 million. Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. On average, equities analysts predict that Absci will post -0.89 EPS for the current fiscal year.

About Absci

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.