Absci (NASDAQ:ABSI – Get Free Report)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued on Monday, Benzinga reports. They currently have a $16.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 75.82% from the stock’s current price.
Other analysts also recently issued reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Absci in a research report on Friday, July 17th. Guggenheim restated a “buy” rating on shares of Absci in a research note on Monday, September 28th. Wall Street Zen raised shares of Absci from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Truist Financial lifted their target price on shares of Absci from $11.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Finally, Lifesci Capital assumed coverage on shares of Absci in a research note on Wednesday, September 9th. They issued an “outperform” rating on the stock. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Absci has a consensus rating of “Moderate Buy” and an average price target of $13.88.
Read Our Latest Stock Report on Absci
Absci Trading Down 5.9%
Absci (NASDAQ:ABSI – Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The company had revenue of $0.32 million for the quarter, compared to the consensus estimate of $0.92 million. Absci had a negative net margin of 7,756.38% and a negative return on equity of 61.71%. As a group, analysts forecast that Absci will post -0.74 earnings per share for the current fiscal year.
Institutional Trading of Absci
A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Absci during the second quarter valued at $141,112,000. Parkman Healthcare Partners LLC bought a new stake in Absci in the 2nd quarter worth about $10,366,000. Baker BROS. Advisors LP bought a new stake in Absci in the 4th quarter worth about $7,450,000. Bank of America Corp DE purchased a new position in Absci in the 2nd quarter worth about $6,560,000. Finally, Siren L.L.C. purchased a new position in Absci in the 1st quarter worth about $5,400,000. Institutional investors own 52.05% of the company’s stock.
About Absci
Absci Corporation is a biotechnology company that uses generative artificial intelligence and integrated laboratory technologies to discover and develop new medicines. The company focuses primarily on biologics, including antibody-based therapies, and aims to accelerate the process of moving from drug concept to candidate development.
Absci’s platform combines artificial intelligence models with biological data generation and laboratory experimentation. Its capabilities include protein and antibody design, target and candidate evaluation, and the development of cell lines and manufacturing processes intended to support biologic drug production.
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