Absci (NASDAQ:ABSI) Coverage Initiated by Analysts at Guggenheim

Analysts at Guggenheim initiated coverage on shares of Absci (NASDAQ:ABSI) in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $10.00 price target on the stock. Guggenheim’s price target indicates a potential upside of 162.47% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. KeyCorp cut their price objective on Absci from $8.00 to $6.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Absci in a research report on Thursday, August 15th. Finally, Morgan Stanley started coverage on shares of Absci in a research note on Wednesday, July 3rd. They set an “overweight” rating and a $7.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $8.67.

Absci Stock Up 0.3 %

ABSI opened at $3.81 on Wednesday. The stock’s fifty day moving average is $4.04 and its 200-day moving average is $4.34. Absci has a one year low of $1.11 and a one year high of $6.72. The company has a market capitalization of $430.85 million, a PE ratio of -3.28 and a beta of 2.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.49 and a current ratio of 6.49.

Absci (NASDAQ:ABSI) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Absci had a negative net margin of 2,838.89% and a negative return on equity of 44.24%. The business had revenue of $1.27 million for the quarter, compared to the consensus estimate of $2.05 million. During the same quarter last year, the business posted ($0.27) EPS. On average, equities analysts predict that Absci will post -0.8 EPS for the current fiscal year.

Institutional Trading of Absci

Several institutional investors have recently modified their holdings of ABSI. Comerica Bank acquired a new stake in shares of Absci in the 1st quarter valued at $31,000. D Orazio & Associates Inc. raised its stake in shares of Absci by 27.3% in the first quarter. D Orazio & Associates Inc. now owns 28,000 shares of the company’s stock valued at $159,000 after acquiring an additional 6,000 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Absci in the 1st quarter worth approximately $63,000. Avantax Advisory Services Inc. bought a new stake in Absci during the 1st quarter worth approximately $71,000. Finally, Cannon Global Investment Management LLC acquired a new stake in Absci during the 1st quarter valued at $104,000. Institutional investors and hedge funds own 52.05% of the company’s stock.

About Absci

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.