Absci Corporation (NASDAQ:ABSI) Receives Consensus Recommendation of “Hold” from Brokerages

Absci Corporation (NASDAQ:ABSI) has received an average rating of “Hold” from the five research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $6.44.

Several equities analysts recently weighed in on ABSI shares. Needham & Company LLC restated a “buy” rating and set a $7.00 price target on shares of Absci in a research report on Wednesday, March 25th. Morgan Stanley downgraded shares of Absci from an “overweight” rating to an “equal weight” rating and set a $4.32 target price for the company. in a research report on Thursday, January 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Absci in a research note on Wednesday, January 21st.

Absci Price Performance

Shares of NASDAQ ABSI opened at $3.23 on Friday. The company has a 50-day moving average price of $2.78 and a 200-day moving average price of $3.25. The stock has a market capitalization of $494.25 million, a P/E ratio of -3.80 and a beta of 2.00. Absci has a 1 year low of $2.24 and a 1 year high of $5.23.

Absci (NASDAQ:ABSI) last issued its quarterly earnings data on Tuesday, March 24th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.07). Absci had a negative return on equity of 62.33% and a negative net margin of 4,113.68%.The company had revenue of $0.65 million during the quarter, compared to analysts’ expectations of $1.38 million. As a group, equities research analysts anticipate that Absci will post -0.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Absci

In related news, CEO Sean Mcclain sold 26,761 shares of Absci stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $2.99, for a total value of $80,015.39. Following the completion of the sale, the chief executive officer owned 8,334,567 shares of the company’s stock, valued at approximately $24,920,355.33. This trade represents a 0.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Andreas Busch bought 100,000 shares of Absci stock in a transaction dated Thursday, March 12th. The stock was acquired at an average price of $2.29 per share, with a total value of $229,000.00. Following the purchase, the insider directly owned 421,446 shares of the company’s stock, valued at approximately $965,111.34. This represents a 31.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 10.49% of the company’s stock.

Institutional Trading of Absci

Several institutional investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC boosted its holdings in Absci by 21.1% in the third quarter. ARK Investment Management LLC now owns 12,162,773 shares of the company’s stock valued at $36,975,000 after acquiring an additional 2,116,845 shares in the last quarter. Heights Capital Management Inc. bought a new position in Absci in the third quarter worth about $6,081,000. Amova Asset Management Americas Inc. lifted its holdings in Absci by 3.2% in the third quarter. Amova Asset Management Americas Inc. now owns 1,494,047 shares of the company’s stock worth $4,542,000 after buying an additional 46,563 shares during the period. AssuredPartners Investment Advisors LLC bought a new stake in Absci during the 4th quarter valued at approximately $43,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Absci by 31.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 34,503 shares of the company’s stock worth $120,000 after acquiring an additional 8,294 shares during the period. 52.05% of the stock is currently owned by hedge funds and other institutional investors.

Absci Company Profile

Absci Corporation (NASDAQ: ABSI) is a biotechnology company that applies machine learning, synthetic biology and automation to accelerate the discovery and development of protein-based therapeutics. The company’s Integrated Drug Creation® (IDC®) platform is designed to identify and produce novel antibody and enzyme candidates at speeds and scales that traditional biopharma discovery methods cannot match. Absci works with pharmaceutical and biotechnology partners to generate, screen and optimize protein molecules for a wide range of therapeutic applications.

The core of Absci’s offering is its end-to-end discovery engine, which combines proprietary algorithms, high-throughput laboratory automation and a deep learning framework.