Absci’s (ABSI) “Buy” Rating Reaffirmed at Guggenheim

Absci (NASDAQ:ABSI)‘s stock had its “buy” rating reaffirmed by investment analysts at Guggenheim in a research report issued on Thursday,Benzinga reports. They presently have a $10.00 price objective on the stock. Guggenheim’s price target points to a potential upside of 232.34% from the stock’s previous close.

Several other research analysts have also weighed in on ABSI. KeyCorp lowered their target price on shares of Absci from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price target on shares of Absci in a research report on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Absci in a research note on Wednesday. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Absci currently has an average rating of “Buy” and an average price target of $8.57.

Absci Stock Performance

NASDAQ ABSI opened at $3.01 on Thursday. The stock has a market capitalization of $345.60 million, a price-to-earnings ratio of -3.22 and a beta of 2.09. The business’s 50 day moving average is $3.87 and its two-hundred day moving average is $3.68. Absci has a 12-month low of $2.45 and a 12-month high of $6.72. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.01.

Absci (NASDAQ:ABSI) last announced its quarterly earnings data on Tuesday, March 18th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). The business had revenue of $0.67 million for the quarter, compared to analyst estimates of $1.77 million. Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. Research analysts expect that Absci will post -0.89 EPS for the current year.

Institutional Investors Weigh In On Absci

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Absci by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,800 shares of the company’s stock worth $120,000 after buying an additional 1,976 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Absci by 14.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,333 shares of the company’s stock worth $77,000 after purchasing an additional 3,747 shares during the period. Wellington Management Group LLP grew its holdings in shares of Absci by 1.1% during the 4th quarter. Wellington Management Group LLP now owns 352,805 shares of the company’s stock worth $924,000 after purchasing an additional 3,951 shares during the period. Rhumbline Advisers increased its position in Absci by 4.2% during the 4th quarter. Rhumbline Advisers now owns 114,152 shares of the company’s stock worth $299,000 after purchasing an additional 4,593 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Absci by 15.1% in the fourth quarter. Invesco Ltd. now owns 43,535 shares of the company’s stock valued at $114,000 after buying an additional 5,719 shares during the period. 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.