Absci Corporation (NASDAQ:ABSI) Receives Consensus Recommendation of "Buy" from Analysts

Absci Corporation (NASDAQ:ABSI - Get Free Report) has earned a consensus rating of "Buy" from the five research firms that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $8.40.

A number of research analysts recently weighed in on the company. Wall Street Zen lowered Absci from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Guggenheim reiterated a "buy" rating and issued a $10.00 price objective on shares of Absci in a report on Thursday, March 20th. HC Wainwright restated a "buy" rating and set a $7.00 target price on shares of Absci in a research note on Wednesday, March 19th. KeyCorp lifted their target price on shares of Absci from $5.00 to $9.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $9.00 price target on shares of Absci in a report on Wednesday, May 14th.

Absci Trading Up 1.5%

Shares of ABSI traded up $0.04 during midday trading on Monday, reaching $2.75. The stock had a trading volume of 3,917,297 shares, compared to its average volume of 2,817,390. The firm has a market cap of $350.79 million, a PE ratio of -2.99 and a beta of 2.06. The firm has a 50 day simple moving average of $2.89 and a 200-day simple moving average of $3.25. Absci has a one year low of $2.01 and a one year high of $6.33.

Absci (NASDAQ:ABSI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.21) EPS for the quarter, topping analysts' consensus estimates of ($0.23) by $0.02. The business had revenue of $1.18 million during the quarter, compared to analysts' expectations of $1.07 million. Absci had a negative return on equity of 53.69% and a negative net margin of 2,232.13%. As a group, research analysts forecast that Absci will post -0.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Woodline Partners LP boosted its stake in shares of Absci by 32.9% in the first quarter. Woodline Partners LP now owns 1,391,245 shares of the company's stock valued at $3,492,000 after buying an additional 344,270 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Absci by 17.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 314,858 shares of the company's stock valued at $790,000 after acquiring an additional 46,975 shares during the period. Banque Transatlantique SA acquired a new stake in shares of Absci during the 1st quarter worth $28,000. AQR Capital Management LLC increased its position in shares of Absci by 279.4% in the first quarter. AQR Capital Management LLC now owns 55,538 shares of the company's stock worth $139,000 after purchasing an additional 40,901 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Absci in the first quarter worth $724,000. 52.05% of the stock is owned by institutional investors.

Absci Company Profile

Absci Corporation operates as a data-first generative artificial intelligence (AI) drug creation company in the United States. The company combines AI with scalable wet lab technologies to create biologics for patients. Its integrated drug creation platform is designed to improve upon traditional biologic drug discovery by using AI to simultaneously optimize multiple drug characteristics that may be important to development and therapeutic benefit.