Absci Corp (NASDAQ:ABSI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Absci Corp (NASDAQ:ABSI) have been given an average rating of “Hold” by the six analysts that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $30.00.

A number of equities research analysts recently weighed in on ABSI shares. Cowen began coverage on Absci in a research note on Monday, August 16th. They set a “market perform” rating for the company. JPMorgan Chase & Co. assumed coverage on Absci in a research note on Monday, August 16th. They issued an “overweight” rating for the company. Bank of America began coverage on Absci in a report on Monday, August 16th. They issued a “neutral” rating and a $26.00 price objective on the stock. Credit Suisse Group began coverage on Absci in a report on Monday, August 16th. They set an “outperform” rating and a $40.00 target price on the stock. Finally, UBS Group assumed coverage on Absci in a research report on Monday, August 16th. They set a “neutral” rating and a $26.00 price objective on the stock.

In other Absci news, General Counsel Sarah Korman purchased 10,000 shares of the stock in a transaction that occurred on Monday, July 26th. The shares were acquired at an average cost of $16.00 per share, with a total value of $160,000.00. Following the completion of the transaction, the general counsel now owns 10,000 shares in the company, valued at $160,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karen K. Mcginnis bought 15,000 shares of the firm’s stock in a transaction on Monday, July 26th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $240,000.00. Following the completion of the acquisition, the director now owns 15,000 shares in the company, valued at $240,000. The disclosure for this purchase can be found here. Insiders have bought 26,600 shares of company stock worth $425,600 over the last quarter.

NASDAQ ABSI traded up $0.18 on Friday, reaching $14.40. 2,123 shares of the company’s stock traded hands, compared to its average volume of 345,017. Absci has a 12 month low of $13.68 and a 12 month high of $31.53.

Absci (NASDAQ:ABSI) last posted its quarterly earnings data on Monday, September 6th. The company reported ($2.39) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($2.22). As a group, sell-side analysts predict that Absci will post -0.89 EPS for the current fiscal year.

About Absci

Absci Corporation is the AI-powered synthetic biology company unlocking the potential of proteins as the next generation of therapeutics. The company’s Creation(TM) Platform involved in discovery of novel biotherapeutic drug candidates and generation of the cell lines to manufacture them in a single efficient process.

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Analyst Recommendations for Absci (NASDAQ:ABSI)

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