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

Absci Corporation (NASDAQ:ABSI) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $8.5167.

A number of equities research analysts recently commented on the company. Leerink Partners initiated coverage on Absci in a research report on Thursday. They set an “outperform” rating and a $12.00 price target on the stock. Truist Financial raised their price target on Absci from $9.00 to $11.00 and gave the company a “buy” rating in a report on Friday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 price target on shares of Absci in a report on Wednesday, March 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Absci in a report on Monday, April 20th. Finally, Morgan Stanley set a $4.10 price target on Absci in a report on Thursday, May 14th.

Insider Buying and Selling at Absci

In related news, insider Andreas Busch bought 100,000 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was bought at an average cost of $2.29 per share, with a total value of $229,000.00. Following the completion of the purchase, the insider owned 421,446 shares in the company, valued at approximately $965,111.34. The trade was a 31.11% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 10.49% of the company’s stock.

Institutional Investors Weigh In On Absci

A number of institutional investors and hedge funds have recently modified their holdings of ABSI. Quarry LP bought a new stake in shares of Absci during the third quarter worth approximately $26,000. Essential Partners LLC raised its stake in shares of Absci by 113,850.0% during the first 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 raised its stake 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 buying an additional 5,385 shares during the last quarter. Legal & General Group Plc raised its stake 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 buying an additional 3,678 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of Absci during the third quarter worth approximately $31,000. 52.05% of the stock is owned by institutional investors.

Absci Stock Performance

Shares of Absci stock opened at $6.40 on Monday. The firm’s 50-day simple moving average is $4.53 and its 200-day simple moving average is $3.57. Absci has a twelve month low of $2.24 and a twelve month 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.

Absci (NASDAQ:ABSI) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.01. The firm had revenue of $0.22 million during the quarter, compared to the consensus estimate of $1.39 million. Absci had a negative net margin of 6,450.76% and a negative return on equity of 66.32%. On average, equities analysts forecast 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.