Recent Analysts’ Ratings Updates for Absci (ABSI)

Several analysts have recently updated their ratings and price targets for Absci (NASDAQ: ABSI):

• 1/22/2025 – Absci is now covered by analysts at Needham & Company LLC. They set a “buy” rating and a $9.00 price target on the stock.
• 1/17/2025 – Absci had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $7.00 price target on the stock.
• 1/8/2025 – Absci had its price target lowered by analysts at KeyCorp from $6.00 to $5.00. They now have an “overweight” rating on the stock.
• 1/8/2025 – Absci had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $7.00 price target on the stock.
• 12/13/2024 – Absci had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $7.00 price target on the stock.
• 12/3/2024 – Absci had its “buy” rating reaffirmed by analysts at Guggenheim. They now have a $10.00 price target on the stock.

Absci Price Performance

Shares of ABSI traded up $0.92 on Wednesday, hitting $4.14. The company’s stock had a trading volume of 12,389,884 shares, compared to its average volume of 8,542,865. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63. The company has a 50 day moving average price of $3.03 and a 200 day moving average price of $3.68. Absci Co. has a fifty-two week low of $2.45 and a fifty-two week high of $6.72. The company has a market capitalization of $474.95 million, a PE ratio of -4.45 and a beta of 2.04.

Absci (NASDAQ:ABSI) last issued its earnings results on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The business had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.77 million. Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. During the same quarter in the previous year, the firm posted ($0.24) EPS. On average, research analysts anticipate that Absci Co. will post -0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Absci

Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC boosted its stake in Absci by 1.2% in the 3rd quarter. FMR LLC now owns 12,727,760 shares of the company’s stock worth $48,620,000 after purchasing an additional 147,156 shares during the period. Fred Alger Management LLC raised its holdings in shares of Absci by 4.3% in the 3rd quarter. Fred Alger Management LLC now owns 7,566,618 shares of the company’s stock valued at $28,904,000 after purchasing an additional 309,843 shares during the period. ARK Investment Management LLC raised its holdings in Absci by 15.1% in the 3rd quarter. ARK Investment Management LLC now owns 6,337,622 shares of the company’s stock valued at $24,210,000 after acquiring an additional 833,734 shares during the period. Geode Capital Management LLC raised its holdings in Absci by 6.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,933,593 shares of the company’s stock valued at $7,388,000 after acquiring an additional 123,896 shares during the period. Finally, Marshall Wace LLP raised its holdings in Absci by 23.3% in the 2nd quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock valued at $5,648,000 after acquiring an additional 347,079 shares during the period. Institutional investors and hedge funds own 52.05% of the company’s stock.

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.