Absci’s (ABSI) Buy Rating Reaffirmed at Guggenheim

Absci (NASDAQ:ABSI)‘s stock had its “buy” rating reissued by research analysts at Guggenheim in a research note issued to investors on Thursday,Benzinga reports. They presently have a $10.00 price target on the stock. Guggenheim’s target price would indicate a potential upside of 232.23% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Absci in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price objective on shares of Absci in a research report on Wednesday. Finally, KeyCorp dropped their price objective on Absci from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $8.57.

Absci Price Performance

ABSI opened at $3.01 on Thursday. The stock has a fifty day simple moving average of $3.86 and a two-hundred day simple moving average of $3.66. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.01. The company has a market cap of $383.28 million, a price-to-earnings ratio of -3.24 and a beta of 2.09. Absci has a 12-month low of $2.45 and a 12-month high of $6.72.

Absci (NASDAQ:ABSI) last issued its quarterly earnings results on Tuesday, March 18th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. The company had revenue of $0.67 million for the quarter, compared to the consensus estimate of $1.77 million. Research analysts predict that Absci will post -0.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Absci

A number of institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 acquiring an additional 1,976 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Absci by 14.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,333 shares of the company’s stock valued at $77,000 after acquiring an additional 3,747 shares during the period. Wellington Management Group LLP boosted its holdings in Absci by 1.1% during the 4th quarter. Wellington Management Group LLP now owns 352,805 shares of the company’s stock valued at $924,000 after acquiring an additional 3,951 shares during the period. Rhumbline Advisers boosted its holdings in Absci by 4.2% during the 4th quarter. Rhumbline Advisers now owns 114,152 shares of the company’s stock valued at $299,000 after acquiring an additional 4,593 shares during the period. Finally, Invesco Ltd. boosted its holdings in Absci by 15.1% during the 4th quarter. Invesco Ltd. now owns 43,535 shares of the company’s stock valued at $114,000 after acquiring an additional 5,719 shares during the period. Hedge funds and other institutional investors 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.