Absci Corporation (NASDAQ:ABSI) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Absci Corporation (NASDAQ:ABSI) have been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $7.9780.

ABSI has been the subject of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Absci in a research note on Wednesday, October 8th. HC Wainwright upped their price objective on Absci from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Needham & Company LLC reissued a “buy” rating and set a $7.00 target price on shares of Absci in a research report on Friday, December 12th. Finally, JPMorgan Chase & Co. began coverage on Absci in a research note on Thursday, October 2nd. They set an “overweight” rating for the company.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. American Century Companies Inc. lifted its position in Absci by 9.5% in the first quarter. American Century Companies Inc. now owns 165,178 shares of the company’s stock valued at $415,000 after acquiring an additional 14,343 shares during the last quarter. Walleye Capital LLC increased its position in Absci by 20.6% in the 1st quarter. Walleye Capital LLC now owns 76,226 shares of the company’s stock valued at $191,000 after acquiring an additional 13,038 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Absci during the first quarter worth approximately $724,000. AQR Capital Management LLC lifted its stake in shares of Absci by 279.4% in the 1st quarter. AQR Capital Management LLC now owns 55,538 shares of the company’s stock worth $139,000 after acquiring an additional 40,901 shares during the period. Finally, Banque Transatlantique SA purchased a new stake in Absci in the 1st quarter valued at approximately $28,000. 52.05% of the stock is owned by hedge funds and other institutional investors.

Absci Stock Performance

Absci stock opened at $3.49 on Friday. The firm has a market cap of $524.79 million, a PE ratio of -3.88 and a beta of 2.11. Absci has a 12 month low of $2.01 and a 12 month high of $6.33. The stock’s 50 day simple moving average is $3.48 and its two-hundred day simple moving average is $3.16.

Absci (NASDAQ:ABSI) last announced its earnings results on Wednesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Absci had a negative net margin of 4,071.19% and a negative return on equity of 60.19%. The business had revenue of $0.38 million for the quarter, compared to analysts’ expectations of $1.58 million. On average, equities research analysts forecast 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.