Absci Corporation (NASDAQ:ABSI) Stock Has Average Price Target of $14.56 According to Analysts

Absci Corporation (NASDAQ:ABSI) has been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $14.50.

A number of analysts recently issued reports on ABSI shares. Wall Street Zen upgraded shares of Absci from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. JPMorgan Chase & Co. increased their price objective on shares of Absci from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of Absci in a report on Wednesday, September 23rd. Guggenheim reissued a “buy” rating on shares of Absci in a research report on Monday, September 28th. Finally, Lifesci Capital initiated coverage on shares of Absci in a research note on Wednesday, September 9th. They issued an “outperform” rating on the stock.

Absci Stock Down 12.9%

Shares of NASDAQ ABSI opened at $9.69 on Thursday. Absci has a fifty-two week low of $2.24 and a fifty-two week high of $12.54. The business has a 50 day moving average price of $9.51 and a two-hundred day moving average price of $6.50. The firm has a market cap of $1.66 billion, a PE ratio of -12.11 and a beta of 2.27.

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 analysts’ consensus estimates of ($0.19) by ($0.02). The business had revenue of $0.32 million during the quarter, compared to analyst estimates 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, analysts anticipate that Absci will post -0.76 earnings per share for the current year.

Institutional Trading of Absci

Hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its position in shares of Absci by 6.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 25,763 shares of the company’s stock worth $277,000 after acquiring an additional 1,484 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Absci in the 3rd quarter valued at approximately $94,000. Profund Advisors LLC raised its position in shares of Absci by 4.0% during the 3rd quarter. Profund Advisors LLC now owns 75,705 shares of the company’s stock valued at $815,000 after acquiring an additional 2,916 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of Absci by 433.7% during the 3rd quarter. Sterling Capital Management LLC now owns 4,622 shares of the company’s stock valued at $50,000 after acquiring an additional 3,756 shares in the last quarter. Finally, Herold Advisors Inc. bought a new position in Absci during the third quarter worth $138,000. 52.05% of the stock is owned by institutional investors.

About Absci

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.