Absci Co. (NASDAQ:ABSI) Receives $8.50 Average Target Price from Analysts

Shares of Absci Co. (NASDAQ:ABSI) have received a consensus rating of “Buy” from the six analysts that are currently covering the firm, Marketbeat reports. Six analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have issued a report on the stock in the last year is $8.50.

A number of equities analysts recently weighed in on the stock. KeyCorp lowered their price objective on shares of Absci from $6.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Guggenheim restated a “buy” rating and set a $10.00 price target on shares of Absci in a research report on Tuesday, December 3rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Absci in a research note on Wednesday, January 8th.

Institutional Investors Weigh In On Absci

Hedge funds and other institutional investors have recently made changes to their positions in the business. PCA Investment Advisory Services Inc. acquired a new position in Absci in the fourth quarter valued at approximately $26,000. JPMorgan Chase & Co. lifted its position in shares of Absci by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 49,379 shares of the company’s stock worth $189,000 after buying an additional 6,409 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of Absci in the 3rd quarter valued at $191,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Absci in the 3rd quarter valued at $724,000. Finally, Barclays PLC raised its stake in Absci by 379.6% during the 3rd quarter. Barclays PLC now owns 131,504 shares of the company’s stock worth $503,000 after acquiring an additional 104,083 shares in the last quarter. Institutional investors and hedge funds own 52.05% of the company’s stock.

Absci Stock Performance

Absci stock opened at $2.71 on Friday. The firm has a 50 day simple moving average of $3.14 and a 200-day simple moving average of $3.68. The stock has a market cap of $311.26 million, a price-to-earnings ratio of -2.91 and a beta of 2.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63. Absci has a 1-year low of $2.45 and a 1-year high of $6.72.

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

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.