Absci Corporation (NASDAQ:ABSI) Stock Has Average Target Price of $13.71

Key Points

• Absci has a consensus “Moderate Buy” rating from nine analysts, with eight buys and one sell. The average 12-month price target is $13.71, above the reported share price of $11.07.
• The stock has risen substantially from its one-year low of $2.24 and trades above its 50-day and 200-day moving averages, but remains highly volatile with a beta of 2.27.
• Absci reported weaker-than-expected quarterly results, including an adjusted loss of $0.21 per share versus the $0.19 consensus estimate and revenue of $0.32 million versus $0.92 million expected. Hedge funds and other institutional investors own approximately 52.05% of the company.

Absci Corporation (NASDAQ:ABSI - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the nine research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $13.71.

Several analysts have issued reports on the stock. Lifesci Capital began coverage on Absci in a report on Wednesday, September 9th. They issued an "outperform" rating for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Absci in a report on Friday, July 17th. Guggenheim reissued a "buy" rating on shares of Absci in a research report on Monday, September 28th. BTIG Research set a $15.00 price target on Absci and gave the company a "buy" rating in a research report on Tuesday, September 8th. Finally, Truist Financial increased their price objective on Absci from $11.00 to $17.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd.

Absci Price Performance

Shares of ABSI opened at $11.07 on Friday. The company has a 50-day moving average of $9.02 and a two-hundred day moving average of $7.12. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -13.84 and a beta of 2.27. Absci has a one year low of $2.24 and a one year high of $12.06.

Absci (NASDAQ:ABSI - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.21) earnings per share (EPS) 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 firm had revenue of $0.32 million for the quarter, compared to analyst estimates of $0.92 million. Analysts anticipate that Absci will post -0.74 earnings per share for the current year.

Institutional Trading of Absci

Hedge funds have recently made changes to their positions in the stock. HB Wealth Management LLC lifted its holdings in Absci by 28.4% in the 1st quarter. HB Wealth Management LLC now owns 12,942 shares of the company's stock worth $39,000 after purchasing an additional 2,862 shares during the last quarter. AXQ Capital LP grew its stake in Absci by 10.5% in the 2nd quarter. AXQ Capital LP now owns 36,000 shares of the company's stock valued at $417,000 after buying an additional 3,435 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Absci in the 2nd quarter worth $53,000. Essential Partners LLC raised its holdings in Absci by 113,850.0% in the 1st quarter. Essential Partners LLC now owns 9,116 shares of the company's stock worth $27,000 after acquiring an additional 9,108 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in Absci during the 1st quarter worth $31,000. 52.05% of the stock is owned by hedge funds and other institutional investors.

About Absci

Absci Corporation is a biotechnology company that uses generative artificial intelligence and integrated laboratory technologies to discover and develop new medicines. The company focuses primarily on biologics, including antibody-based therapies, and aims to accelerate the process of moving from drug concept to candidate development.

Absci's platform combines artificial intelligence models with biological data generation and laboratory experimentation. Its capabilities include protein and antibody design, target and candidate evaluation, and the development of cell lines and manufacturing processes intended to support biologic drug production.

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