Absci (NASDAQ:ABSI) Stock Rating Upgraded by Wall Street Zen

Absci (NASDAQ:ABSI) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other analysts have also weighed in on the stock. BTIG Research restated a “buy” rating and set a $13.00 target price on shares of Absci in a research note on Wednesday, August 12th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price target on shares of Absci in a research note on Wednesday, August 12th. Leerink Partners began coverage on shares of Absci in a report on Thursday, June 4th. They set an “outperform” rating and a $12.00 price target for the company. Guggenheim increased their price objective on shares of Absci from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Finally, Truist Financial raised their price objective on shares of Absci from $11.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Absci has a consensus rating of “Moderate Buy” and an average target price of $13.43.

Absci Price Performance

Shares of NASDAQ ABSI opened at $9.18 on Friday. The stock has a market cap of $1.58 billion, a PE ratio of -11.47 and a beta of 2.35. Absci has a 1 year low of $2.24 and a 1 year high of $12.06. The firm has a fifty day moving average price of $8.85 and a 200-day moving average price of $5.52.

Absci (NASDAQ:ABSI) last released its earnings results on Tuesday, August 11th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The firm had revenue of $0.32 million for the quarter, compared to analysts’ expectations of $0.92 million. Absci had a negative net margin of 7,756.38% and a negative return on equity of 61.71%. On average, research analysts expect that Absci will post -0.71 EPS for the current year.

Institutional Trading of Absci

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Absci in the second quarter valued at approximately $141,112,000. State Street Corp increased its holdings in shares of Absci by 190.1% in the 4th quarter. State Street Corp now owns 5,990,877 shares of the company’s stock valued at $20,908,000 after acquiring an additional 3,925,926 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in Absci in the 4th quarter valued at $8,201,000. Baker BROS. Advisors LP purchased a new stake in Absci in the 4th quarter valued at $7,450,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Absci by 2,955.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,156,067 shares of the company’s stock worth $7,526,000 after purchasing an additional 2,085,501 shares during the period. 52.05% of the stock is currently owned by institutional investors.

Absci Company Profile

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.