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Absci Corporation (NASDAQ:ABSI) Given Consensus Rating of "Buy" by Analysts

Absci logo with Medical background

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

ABSI has been the topic of a number of recent research reports. Needham & Company LLC reissued a "buy" rating and issued a $9.00 target price on shares of Absci in a research note on Wednesday, May 14th. Morgan Stanley initiated coverage on Absci in a report on Thursday, July 3rd. They set an "overweight" rating and a $7.00 price target on the stock. KeyCorp upped their price target on Absci from $5.00 to $9.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. HC Wainwright reaffirmed a "buy" rating and set a $7.00 price target on shares of Absci in a report on Wednesday, March 19th. Finally, Guggenheim reaffirmed a "buy" rating and set a $10.00 price target on shares of Absci in a report on Thursday, March 20th.

Check Out Our Latest Stock Report on Absci

Hedge Funds Weigh In On Absci

Institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. purchased a new position in Absci during the 1st quarter valued at approximately $26,000. Neuberger Berman Group LLC bought a new stake in shares of Absci in the 1st quarter valued at approximately $26,000. BNP Paribas Financial Markets bought a new stake in shares of Absci during the 4th quarter worth approximately $28,000. AssuredPartners Investment Advisors LLC bought a new stake in shares of Absci during the 1st quarter worth approximately $29,000. Finally, Banque Transatlantique SA bought a new stake in shares of Absci during the 1st quarter worth approximately $28,000. Hedge funds and other institutional investors own 52.05% of the company's stock.

Absci Price Performance

ABSI stock traded down $0.01 during midday trading on Friday, hitting $2.66. The stock had a trading volume of 3,151,182 shares, compared to its average volume of 2,932,439. The firm has a market cap of $339.31 million, a price-to-earnings ratio of -2.89 and a beta of 2.01. The business has a 50-day moving average of $2.77 and a two-hundred day moving average of $3.18. Absci has a 52-week low of $2.01 and a 52-week high of $6.33.

Absci (NASDAQ:ABSI - Get Free Report) last released its 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. Absci had a negative return on equity of 53.69% and a negative net margin of 2,232.13%. The firm had revenue of $1.18 million for the quarter, compared to analysts' expectations of $1.07 million. Research analysts predict that Absci will post -0.89 earnings per share for the current year.

Absci Company Profile

(Get Free Report

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.

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