Absci Corporation (NASDAQ:ABSI) Stock Has Average Target Price of $13.71 According to Analysts

Absci Corporation (NASDAQ:ABSI) has been given a consensus rating of “Moderate Buy” by the nine research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $13.71.

ABSI has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Absci in a research report on Wednesday, September 23rd. Truist Financial boosted their target price on Absci from $11.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Wall Street Zen raised shares of Absci from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. HC Wainwright raised their price target on shares of Absci from $8.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Finally, BTIG Research set a $15.00 price target on shares of Absci and gave the company a “buy” rating in a research note on Tuesday, September 8th.

Hedge Funds Weigh In On Absci

A number of institutional investors have recently added to or reduced their stakes in the stock. Parkman Healthcare Partners LLC acquired a new stake in Absci in the second quarter valued at approximately $10,366,000. Siren L.L.C. bought a new stake in shares of Absci during the first quarter worth $5,400,000. Deutsche Bank AG bought a new stake in shares of Absci during the second quarter worth $1,591,000. Artia Global Partners LP bought a new stake in shares of Absci during the second quarter worth $5,383,000. Finally, Bank of America Corp DE bought a new stake in shares of Absci during the second quarter worth $6,560,000. 52.05% of the stock is currently owned by institutional investors and hedge funds.

Absci Stock Performance

Shares of ABSI opened at $10.16 on Friday. Absci has a 52-week low of $2.24 and a 52-week high of $12.06. The business’s fifty day moving average is $9.28 and its 200-day moving average is $7.37. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -12.70 and a beta of 2.27.

Absci (NASDAQ:ABSI) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Absci had a negative return on equity of 61.71% and a negative net margin of 7,756.38%. The business had revenue of $0.32 million for the quarter, compared to analyst estimates of $0.92 million. As a group, research analysts forecast that Absci will post -0.74 EPS for the current fiscal year.

About Absci

Absci Corporation is a biotechnology company that uses generative artificial intelligence and integrated laboratory technologies to discover and develop new medicines. The company focuses primarily on biologics, including antibody-based therapies, and aims to accelerate the process of moving from drug concept to candidate development.

Absci’s platform combines artificial intelligence models with biological data generation and laboratory experimentation. Its capabilities include protein and antibody design, target and candidate evaluation, and the development of cell lines and manufacturing processes intended to support biologic drug production.