Absci (NASDAQ:ABSI) Now Covered by Lifesci Capital

Research analysts at Lifesci Capital initiated coverage on shares of Absci (NASDAQ:ABSI) in a report issued on Wednesday, Benzinga reports. The firm set an “outperform” rating on the stock.

ABSI has been the topic of several other research reports. Truist Financial increased their target price on Absci from $11.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. BTIG Research set a $15.00 price target on shares of Absci and gave the stock a “buy” rating in a research report on Tuesday. Leerink Partners started coverage on shares of 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 increased their price objective on shares of Absci from $8.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Finally, Wall Street Zen upgraded shares of Absci from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.71.

Absci Trading Down 2.9%

NASDAQ ABSI traded down $0.26 during trading hours on Wednesday, reaching $8.65. 2,026,557 shares of the company’s stock were exchanged, compared to its average volume of 4,344,554. The stock has a market cap of $1.48 billion, a PE ratio of -10.81 and a beta of 2.42. Absci has a one year low of $2.24 and a one year high of $12.06. The firm has a fifty day moving average of $9.16 and a 200-day moving average of $6.28.

Absci (NASDAQ:ABSI) last released its quarterly 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). Absci had a negative net margin of 7,756.38% and a negative return on equity of 61.71%. The business had revenue of $0.32 million for the quarter, compared to analyst estimates of $0.92 million. As a group, research analysts forecast that Absci will post -0.74 EPS for the current year.

Institutional Investors Weigh In On Absci

Several hedge funds and other institutional investors have recently made changes to their positions in ABSI. AQR Capital Management LLC lifted its stake in shares of Absci by 279.4% during the first quarter. AQR Capital Management LLC now owns 55,538 shares of the company’s stock valued at $139,000 after acquiring an additional 40,901 shares during the period. Goldman Sachs Group Inc. increased its position in Absci by 17.5% in the first quarter. Goldman Sachs Group Inc. now owns 314,858 shares of the company’s stock worth $790,000 after purchasing an additional 46,975 shares during the period. Woodline Partners LP increased its position in Absci by 32.9% in the first quarter. Woodline Partners LP now owns 1,391,245 shares of the company’s stock worth $3,492,000 after purchasing an additional 344,270 shares during the period. Geode Capital Management LLC raised its holdings in Absci by 22.5% during the 2nd quarter. Geode Capital Management LLC now owns 2,445,450 shares of the company’s stock worth $6,286,000 after purchasing an additional 448,984 shares during the last quarter. Finally, Creative Planning raised its holdings in Absci by 145.4% during the 2nd quarter. Creative Planning now owns 46,882 shares of the company’s stock worth $120,000 after purchasing an additional 27,775 shares during the last quarter. 52.05% of the stock is owned by institutional investors and hedge funds.

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.