Absci (NASDAQ:ABSI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Absci (NASDAQ:ABSI - Free Report) from a sell rating to a hold rating in a research report report published on Saturday morning.

ABSI has been the topic of several other reports. HC Wainwright reissued a "buy" rating and set a $7.00 price objective on shares of Absci in a report on Wednesday, March 19th. Needham & Company LLC reiterated a "buy" rating and issued a $9.00 price target on shares of Absci in a report on Wednesday, May 14th. Guggenheim reissued a "buy" rating and issued a $10.00 price target on shares of Absci in a research report on Thursday, March 20th. Finally, KeyCorp raised their price objective on Absci from $5.00 to $9.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $8.40.

Absci Trading Up 1.5%

Shares of Absci stock traded up $0.04 during trading on Friday, hitting $2.79. 9,768,778 shares of the stock traded hands, compared to its average volume of 2,833,643. The stock's fifty day simple moving average is $2.90 and its 200 day simple moving average is $3.25. The firm has a market cap of $355.89 million, a P/E ratio of -3.03 and a beta of 2.06. Absci has a 52-week low of $2.01 and a 52-week high of $6.33.

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

Institutional Trading of Absci

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. acquired a new position in Absci during the 1st quarter valued at about $26,000. Neuberger Berman Group LLC purchased a new stake in shares of Absci during the first quarter worth about $26,000. BNP Paribas Financial Markets acquired a new position in shares of Absci during the fourth quarter valued at about $28,000. AssuredPartners Investment Advisors LLC purchased a new position in shares of Absci in the 1st quarter valued at approximately $29,000. Finally, Banque Transatlantique SA purchased a new position in shares of Absci in the 1st quarter valued at approximately $28,000. Hedge funds and other 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.