Absci Corporation (NASDAQ:ABSI) Stock Has Consensus Target Price of $14.56

Absci Corporation (NASDAQ:ABSI) has earned an average rating of “Moderate Buy” from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and eleven have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $14.50.

ABSI has been the subject of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Absci in a research report on Thursday, October 15th. Guggenheim reaffirmed a “buy” rating on shares of Absci in a research report on Monday, September 28th. Wall Street Zen upgraded Absci from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Jefferies Financial Group initiated coverage on Absci in a research note on Thursday. They set a “buy” rating and a $14.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating on shares of Absci in a report on Tuesday, October 20th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ABSI. Integrated Wealth Concepts LLC acquired a new stake in Absci during the second quarter valued at $53,000. Sterling Capital Management LLC raised its position in shares of Absci by 433.7% in the third quarter. Sterling Capital Management LLC now owns 4,622 shares of the company’s stock worth $50,000 after acquiring an additional 3,756 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Absci in the third quarter worth about $94,000. Essential Partners LLC raised its position in shares of Absci by 113,850.0% in the first quarter. Essential Partners LLC now owns 9,116 shares of the company’s stock worth $27,000 after acquiring an additional 9,108 shares during the period. Finally, Principal Financial Group Inc. purchased a new stake in shares of Absci during the 1st quarter worth about $31,000. 52.05% of the stock is currently owned by hedge funds and other institutional investors.

Absci Price Performance

Shares of ABSI opened at $11.13 on Thursday. The company’s fifty day moving average price is $9.51 and its 200-day moving average price is $6.47. The firm has a market capitalization of $1.91 billion, a PE ratio of -13.91 and a beta of 2.27. Absci has a 1-year low of $2.24 and a 1-year high of $12.54.

Absci (NASDAQ:ABSI) last announced its quarterly earnings data 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 return on equity of 61.71% and a negative net margin of 7,756.38%. The firm had revenue of $0.32 million during the quarter, compared to analysts’ expectations of $0.92 million. As a group, research analysts anticipate that Absci will post -0.76 EPS for the current fiscal year.

Absci Company Profile

Absci Corporation (NASDAQ: ABSI) is a biotechnology company that uses generative artificial intelligence and advanced biotechnology to discover and develop new medicines. Its integrated drug creation platform combines computational design with laboratory-based validation to identify potential therapeutic candidates, with a focus on biologics such as antibodies and other protein-based medicines.

The company’s technology is designed to support the creation of novel drug candidates from the earliest stages of discovery through preclinical development.