Absci’s (ABSI) Buy Rating Reiterated at Guggenheim

Guggenheim reaffirmed their buy rating on shares of Absci (NASDAQ:ABSI) in a report released on Thursday morning,Benzinga reports. They currently have a $10.00 target price on the stock.

ABSI has been the topic of several other research reports. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Absci in a research report on Wednesday. Needham & Company LLC restated a “buy” rating and set a $9.00 target price on shares of Absci in a research note on Wednesday. Finally, KeyCorp dropped their price target on shares of Absci from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $8.57.

Absci Stock Down 1.0 %

ABSI stock opened at $3.01 on Thursday. The firm has a 50 day moving average of $3.86 and a 200 day moving average of $3.66. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $383.28 million, a PE ratio of -3.24 and a beta of 2.09. Absci has a 52 week low of $2.45 and a 52 week high of $6.72.

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

Institutional Investors Weigh In On Absci

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC increased its position in shares of Absci by 1.2% in the third quarter. FMR LLC now owns 12,727,760 shares of the company’s stock valued at $48,620,000 after buying an additional 147,156 shares in the last quarter. ARK Investment Management LLC increased its position in shares of Absci by 30.4% in the fourth quarter. ARK Investment Management LLC now owns 8,265,936 shares of the company’s stock valued at $21,657,000 after buying an additional 1,928,314 shares in the last quarter. Fred Alger Management LLC increased its position in shares of Absci by 4.3% in the third quarter. Fred Alger Management LLC now owns 7,566,618 shares of the company’s stock valued at $28,904,000 after buying an additional 309,843 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Absci by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,949,810 shares of the company’s stock valued at $5,110,000 after buying an additional 16,217 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Absci by 28.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,829 shares of the company’s stock valued at $2,997,000 after buying an additional 253,985 shares in the last quarter. Institutional investors and hedge funds 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.