Absci’s (ABSI) “Buy” Rating Reaffirmed at HC Wainwright

Absci (NASDAQ:ABSI)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued to investors on Monday, Benzinga reports. They presently have a $16.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 82.11% from the company’s previous close.

ABSI has been the topic of several other reports. Lifesci Capital initiated coverage on Absci in a research note on Wednesday, September 9th. They issued an “outperform” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Absci in a report on Friday, July 17th. Guggenheim restated a “buy” rating on shares of Absci in a research note on Monday, September 28th. BTIG Research set a $15.00 price target on shares of Absci and gave the company a “buy” rating in a report on Tuesday, September 8th. Finally, Morgan Stanley reiterated a “positive” rating and set a $10.00 price objective on shares of Absci in a research report on Thursday, June 25th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.88.

Absci Stock Performance

NASDAQ:ABSI traded down $0.31 during mid-day trading on Monday, reaching $8.79. 978,857 shares of the company’s stock were exchanged, compared to its average volume of 4,329,227. Absci has a one year low of $2.24 and a one year high of $12.06. The firm has a market capitalization of $1.51 billion, a PE ratio of -11.02 and a beta of 2.27. The business’s fifty day simple moving average is $9.33 and its two-hundred day simple moving average is $7.49.

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

Hedge Funds Weigh In On Absci

Hedge funds have recently bought and sold shares of the company. Parkman Healthcare Partners LLC bought a new position in shares of Absci during the 2nd quarter worth approximately $10,366,000. Siren L.L.C. bought a new stake in shares of Absci in the 1st quarter valued at $5,400,000. Deutsche Bank AG bought a new stake in shares of Absci in the 2nd quarter valued at $1,591,000. Artia Global Partners LP bought a new position in shares of Absci during the 2nd quarter worth about $5,383,000. Finally, Bank of America Corp DE acquired a new position in Absci during the 2nd quarter worth approximately $6,560,000. Institutional investors own 52.05% of the company’s stock.

Absci Company Profile

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.