Analysts Set Absci Co. (NASDAQ:ABSI) PT at $8.57

Shares of Absci Co. (NASDAQ:ABSI) have been given a consensus rating of “Buy” by the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have covered the stock in the last year is $8.57.

Several research firms have weighed in on ABSI. Guggenheim restated a “buy” rating and set a $10.00 target price on shares of Absci in a research note on Tuesday, December 3rd. Needham & Company LLC initiated coverage on shares of Absci in a report on Wednesday, January 22nd. They issued a “buy” rating and a $9.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Absci in a report on Friday, January 17th. Finally, KeyCorp reduced their price objective on Absci from $6.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th.

Institutional Trading of Absci

Hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Absci by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,800 shares of the company’s stock valued at $120,000 after buying an additional 1,976 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Absci by 14.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,333 shares of the company’s stock worth $77,000 after purchasing an additional 3,747 shares in the last quarter. Wellington Management Group LLP lifted its position in Absci by 1.1% in the 4th quarter. Wellington Management Group LLP now owns 352,805 shares of the company’s stock worth $924,000 after buying an additional 3,951 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Absci by 4.2% in the 4th quarter. Rhumbline Advisers now owns 114,152 shares of the company’s stock valued at $299,000 after purchasing an additional 4,593 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Absci by 15.1% during the fourth quarter. Invesco Ltd. now owns 43,535 shares of the company’s stock valued at $114,000 after buying an additional 5,719 shares during the last quarter. 52.05% of the stock is currently owned by institutional investors.

Absci Stock Performance

Shares of ABSI stock opened at $3.42 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63. The company has a 50-day simple moving average of $3.83 and a 200 day simple moving average of $3.78. Absci has a 52 week low of $2.45 and a 52 week high of $6.72. The company has a market capitalization of $392.81 million, a price-to-earnings ratio of -3.68 and a beta of 2.11.

Absci Company Profile

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.