Absci’s (ABSI) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Absci (NASDAQ:ABSI) in a research note released on Wednesday, MarketBeat reports. They currently have a $9.00 target price on the stock.

A number of other analysts also recently commented on ABSI. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Absci in a research report on Friday, January 17th. KeyCorp lowered their price objective 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. Finally, Guggenheim restated a “buy” rating and set a $10.00 target price on shares of Absci in a report on Tuesday, December 3rd. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $8.57.

Absci Stock Performance

Shares of ABSI stock opened at $3.01 on Wednesday. Absci has a 52-week low of $2.45 and a 52-week high of $6.72. The stock’s 50-day moving average price is $3.86 and its 200 day moving average price is $3.66. The stock has a market capitalization of $383.28 million, a PE ratio of -3.24 and a beta of 2.09. The company has a quick ratio of 5.63, a current 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). Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. The business had revenue of $0.67 million during the quarter, compared to analysts’ expectations of $1.77 million. As a group, equities research analysts forecast that Absci will post -0.89 EPS for the current year.

Hedge Funds Weigh In On Absci

Hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Absci by 4.5% during the fourth 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 in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Absci by 14.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,333 shares of the company’s stock worth $77,000 after buying an additional 3,747 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Absci by 1.1% during the fourth quarter. Wellington Management Group LLP now owns 352,805 shares of the company’s stock worth $924,000 after buying an additional 3,951 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Absci by 4.2% during the fourth quarter. Rhumbline Advisers now owns 114,152 shares of the company’s stock worth $299,000 after buying an additional 4,593 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Absci by 15.1% during the fourth quarter. Invesco Ltd. now owns 43,535 shares of the company’s stock worth $114,000 after buying an additional 5,719 shares in the last quarter. 52.05% of the stock is currently owned by hedge funds and other institutional investors.

Absci Company Profile

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.