Absci (NASDAQ:ABSI) Coverage Initiated by Analysts at Morgan Stanley

Stock analysts at Morgan Stanley began coverage on shares of Absci (NASDAQ:ABSI - Get Free Report) in a research note issued to investors on Thursday. The brokerage set an "overweight" rating and a $7.00 price target on the stock. Morgan Stanley's price target would indicate a potential upside of 154.08% from the company's previous close.

Several other research firms have also weighed in on ABSI. Needham & Company LLC reaffirmed a "buy" rating and set a $9.00 price target on shares of Absci in a research report on Wednesday, May 14th. KeyCorp boosted their price target on Absci from $5.00 to $9.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. Wall Street Zen lowered Absci from a "hold" rating to a "sell" rating in a research report on Sunday. HC Wainwright reaffirmed a "buy" rating and set a $7.00 price target on shares of Absci in a research report on Wednesday, March 19th. Finally, Guggenheim reaffirmed a "buy" rating and set a $10.00 price target on shares of Absci in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat.com, Absci has a consensus rating of "Moderate Buy" and a consensus price target of $8.40.

Absci Trading Up 2.4%

NASDAQ ABSI traded up $0.07 during trading on Thursday, hitting $2.76. The stock had a trading volume of 2,711,520 shares, compared to its average volume of 2,888,483. The company's 50-day moving average price is $2.83 and its two-hundred day moving average price is $3.20. Absci has a 12 month low of $2.01 and a 12 month 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) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.02. The firm had revenue of $1.18 million for the quarter, compared to analyst estimates 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, analysts anticipate that Absci will post -0.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Absci

A number of large investors have recently added to or reduced their stakes in ABSI. Cambridge Investment Research Advisors Inc. bought a new stake in Absci in the 1st quarter valued at $26,000. Neuberger Berman Group LLC bought a new stake in Absci in the 1st quarter valued at $26,000. BNP Paribas Financial Markets bought a new stake in Absci in the 4th quarter valued at $28,000. Banque Transatlantique SA bought a new stake in Absci in the 1st quarter valued at $28,000. Finally, AssuredPartners Investment Advisors LLC bought a new stake in Absci in the 1st quarter valued at $29,000. Institutional investors own 52.05% of the company's stock.

About Absci

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.