Absci (NASDAQ:ABSI) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Absci (NASDAQ:ABSI) in a research note published on Monday morning,Benzinga reports. The firm currently has a $16.00 target price on the stock.

Several other research analysts have also recently weighed in on ABSI. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of Absci in a research note on Wednesday, September 23rd. Guggenheim restated a “buy” rating on shares of Absci in a research note on Monday, September 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Absci in a research note on Friday, July 17th. Wall Street Zen raised Absci from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Morgan Stanley reaffirmed a “positive” rating and issued a $10.00 target price on shares of Absci in a report on Thursday, June 25th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Absci currently has a consensus rating of “Moderate Buy” and an average price target of $13.88.

Absci Trading Down 4.8%

ABSI opened at $9.67 on Monday. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -12.09 and a beta of 2.27. The company’s 50 day moving average is $9.32 and its 200 day moving average is $7.44. Absci has a 12-month low of $2.24 and a 12-month high of $12.06.

Absci (NASDAQ:ABSI) last announced its earnings results on Tuesday, August 11th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $0.92 million. As a group, analysts predict that Absci will post -0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ABSI. BlackRock Inc. purchased a new stake in shares of Absci in the second quarter worth $141,112,000. Baker BROS. Advisors LP bought a new stake in shares of Absci during the 4th quarter valued at $7,450,000. Siren L.L.C. purchased a new position in shares of Absci during the 1st quarter valued at $5,400,000. Parkman Healthcare Partners LLC purchased a new position in shares of Absci during the 2nd quarter valued at $10,366,000. Finally, Bank of America Corp DE purchased a new position in shares of Absci during the 2nd quarter valued at $6,560,000. 52.05% of the stock is currently owned by institutional investors.

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.