Brokerages Set Absci Corporation (NASDAQ:ABSI) Price Target at $12.57

Absci Corporation (NASDAQ:ABSI) has earned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $12.5714.

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised Absci from a “sell” rating to a “hold” rating in a research report on Saturday. Leerink Partners assumed coverage on Absci in a research report on Thursday, June 4th. They set an “outperform” rating and a $12.00 price target on the stock. HC Wainwright upped their price target on Absci from $8.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Guggenheim upped their price target on Absci from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Finally, BTIG Research upped their price target on Absci from $9.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th.

Absci Stock Up 2.1%

Shares of NASDAQ:ABSI opened at $11.59 on Friday. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -13.96 and a beta of 2.44. Absci has a 52 week low of $2.24 and a 52 week high of $12.06. The firm has a 50 day moving average of $6.28 and a 200 day moving average of $4.18.

Absci (NASDAQ:ABSI) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. The company had revenue of $0.22 million during the quarter, compared to the consensus estimate of $1.39 million. Absci had a negative net margin of 6,450.76% and a negative return on equity of 66.32%. On average, sell-side analysts expect that Absci will post -0.71 EPS for the current year.

Institutional Trading of Absci

Large investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Absci during the 3rd quarter valued at about $26,000. Essential Partners LLC grew its stake in Absci by 113,850.0% during the 1st quarter. Essential Partners LLC now owns 9,116 shares of the company’s stock valued at $27,000 after purchasing an additional 9,108 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Absci by 91.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 11,287 shares of the company’s stock valued at $29,000 after purchasing an additional 5,385 shares during the last quarter. Legal & General Group Plc grew its stake in Absci by 45.9% during the 2nd quarter. Legal & General Group Plc now owns 11,690 shares of the company’s stock valued at $30,000 after purchasing an additional 3,678 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in Absci during the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 52.05% of the company’s stock.

About Absci

Absci Corporation (NASDAQ: ABSI) is a biotechnology company that applies machine learning, synthetic biology and automation to accelerate the discovery and development of protein-based therapeutics. The company’s Integrated Drug Creation® (IDC®) platform is designed to identify and produce novel antibody and enzyme candidates at speeds and scales that traditional biopharma discovery methods cannot match. Absci works with pharmaceutical and biotechnology partners to generate, screen and optimize protein molecules for a wide range of therapeutic applications.

The core of Absci’s offering is its end-to-end discovery engine, which combines proprietary algorithms, high-throughput laboratory automation and a deep learning framework.