Absci (NASDAQ:ABSI) Stock Rating Upgraded by Wall Street Zen

Absci (NASDAQ:ABSI) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Other analysts have also issued research reports about the company. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Absci in a report on Wednesday, March 19th. KeyCorp upped their target price on Absci from $5.00 to $9.00 and gave the stock an “overweight” rating in a report on Wednesday, April 16th. Guggenheim reiterated a “buy” rating and set a $10.00 target price on shares of Absci in a report on Thursday, March 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $9.00 target price on shares of Absci in a report on Wednesday, May 14th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Absci has an average rating of “Moderate Buy” and an average target price of $8.40.

Absci Price Performance

Shares of Absci stock opened at $2.79 on Friday. The firm has a market cap of $355.89 million, a price-to-earnings ratio of -3.03 and a beta of 2.06. The stock’s 50-day moving average is $2.90 and its 200-day moving average is $3.24. Absci has a one year low of $2.01 and a one year high of $6.33.

Absci (NASDAQ:ABSI) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.02. The company had revenue of $1.18 million for the quarter, compared to analyst estimates of $1.07 million. Absci had a negative return on equity of 53.69% and a negative net margin of 2,232.13%. On average, equities analysts expect that Absci will post -0.89 EPS for the current year.

Institutional Trading of Absci

Institutional investors and hedge funds have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. bought a new stake in Absci in the first quarter valued at approximately $26,000. Neuberger Berman Group LLC bought a new stake in Absci in the first quarter valued at approximately $26,000. BNP Paribas Financial Markets bought a new stake in Absci in the fourth quarter valued at approximately $28,000. Banque Transatlantique SA bought a new stake in Absci in the first quarter valued at approximately $28,000. Finally, AssuredPartners Investment Advisors LLC bought a new stake in Absci in the first quarter valued at approximately $29,000. 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.