Shares of Absci Corporation (NASDAQ:ABSI – Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $11.45 and last traded at $11.40, with a volume of 823199 shares traded. The stock had previously closed at $10.89.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on ABSI shares. Leerink Partners initiated coverage on Absci in a research report on Thursday, June 4th. They issued an “outperform” rating and a $12.00 target price on the stock. HC Wainwright increased their target price on shares of Absci from $8.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday. BTIG Research raised their price target on shares of Absci from $9.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Guggenheim lifted their price target on shares of Absci from $10.00 to $15.00 and gave the company a “buy” rating in a report on Monday, June 15th. Finally, Wall Street Zen upgraded shares of Absci from a “sell” rating to a “hold” rating in a research report on Saturday. Eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.57.
View Our Latest Stock Analysis on ABSI
Absci Stock Performance
Absci (NASDAQ:ABSI – Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. The business had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $1.39 million. Absci had a negative return on equity of 66.32% and a negative net margin of 6,450.76%. Equities analysts expect that Absci Corporation will post -0.71 EPS for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in Absci during the 3rd quarter worth approximately $26,000. Essential Partners LLC raised its stake in shares of 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 acquiring an additional 9,108 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Absci by 91.2% during the second quarter. BNP Paribas Financial Markets now owns 11,287 shares of the company’s stock worth $29,000 after purchasing an additional 5,385 shares during the period. Legal & General Group Plc lifted its holdings in shares of Absci by 45.9% during the second quarter. Legal & General Group Plc now owns 11,690 shares of the company’s stock worth $30,000 after purchasing an additional 3,678 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in shares of Absci in the first quarter worth $31,000. Institutional investors own 52.05% of the company’s stock.
About Absci
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.
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