Absci Corporation (NASDAQ:ABSI) Stock Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts broadly favor Absci: Eleven firms give the stock an average “Moderate Buy” rating, with ten buys and one sell. The average 12-month price target is $14.56.
• Absci shares rose 12.4% to $11.88, near their 12-month high of $12.06, while institutional investors and hedge funds own 52.05% of the stock.
• The company 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 expectations of $0.92 million.

Shares of Absci Corporation (NASDAQ:ABSI - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eleven research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and ten have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $14.56.

A number of equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Absci from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Lifesci Capital began coverage on Absci in a report on Wednesday, September 9th. They set an "outperform" rating on the stock. HC Wainwright reaffirmed a "buy" rating on shares of Absci in a research report on Tuesday, October 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Absci in a research note on Thursday, October 15th. Finally, Truist Financial upped their price target on Absci from $11.00 to $17.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd.

Absci Stock Up 12.4%

ABSI stock opened at $11.88 on Thursday. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -14.85 and a beta of 2.27. Absci has a 12 month low of $2.24 and a 12 month high of $12.06. The firm has a 50 day moving average of $9.43 and a two-hundred day moving average of $6.39.

Absci (NASDAQ:ABSI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Absci had a negative return on equity of 61.71% and a negative net margin of 7,756.38%. The business had revenue of $0.32 million for the quarter, compared to analyst estimates of $0.92 million. On average, research analysts expect that Absci will post -0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Absci

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABSI. Essential Partners LLC grew its holdings in Absci by 113,850.0% during the first quarter. Essential Partners LLC now owns 9,116 shares of the company's stock valued at $27,000 after purchasing an additional 9,108 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Absci in the first quarter valued at approximately $31,000. HB Wealth Management LLC raised its position in shares of Absci by 28.4% in the first quarter. HB Wealth Management LLC now owns 12,942 shares of the company's stock valued at $39,000 after purchasing an additional 2,862 shares during the period. Sterling Capital Management LLC raised its position in shares of Absci by 433.7% in the third quarter. Sterling Capital Management LLC now owns 4,622 shares of the company's stock valued at $50,000 after purchasing an additional 3,756 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Absci in the second quarter worth $53,000. 52.05% of the stock is currently owned by institutional investors and hedge funds.

Absci Company Profile

Absci Corporation NASDAQ: ABSI is a biotechnology company that uses generative artificial intelligence and advanced biotechnology to discover and develop new medicines. Its integrated drug creation platform combines computational design with laboratory-based validation to identify potential therapeutic candidates, with a focus on biologics such as antibodies and other protein-based medicines.

The company's technology is designed to support the creation of novel drug candidates from the earliest stages of discovery through preclinical development.

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