Absci (NASDAQ:ABSI) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Absci (NASDAQ:ABSI) from a sell rating to a hold rating in a research report released on Saturday.

Other equities analysts also recently issued reports about the stock. Truist Financial increased their price objective on shares of Absci from $11.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Guggenheim upped their target price on Absci from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, June 15th. HC Wainwright upped their target price on Absci from $8.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Absci in a research report on Friday, July 17th. Finally, Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of Absci in a research note on Wednesday. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.43.

Absci Trading Down 3.0%

Shares of ABSI opened at $9.18 on Friday. Absci has a 12 month low of $2.24 and a 12 month high of $12.06. The firm has a fifty day simple moving average of $8.85 and a 200 day simple moving average of $5.50. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -11.47 and a beta of 2.35.

Absci (NASDAQ:ABSI) last released its earnings results on Tuesday, August 11th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Absci had a negative net margin of 7,756.38% and a negative return on equity of 61.71%. The business had revenue of $0.32 million during the quarter, compared to the consensus estimate of $0.92 million. As a group, research analysts predict that Absci will post -0.71 earnings per share for the current fiscal year.

Institutional Trading of Absci

A number of large investors have recently added to or reduced their stakes in ABSI. Quarry LP acquired a new position in shares of Absci during the 3rd quarter worth about $26,000. Essential Partners LLC raised its holdings in shares of Absci by 113,850.0% in the 1st quarter. Essential Partners LLC now owns 9,116 shares of the company’s stock valued at $27,000 after purchasing an additional 9,108 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Absci by 91.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 11,287 shares of the company’s stock valued at $29,000 after purchasing an additional 5,385 shares during the period. Legal & General Group Plc lifted its stake in Absci by 45.9% in the 2nd quarter. Legal & General Group Plc now owns 11,690 shares of the company’s stock valued at $30,000 after purchasing an additional 3,678 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in Absci in the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 52.05% of the company’s stock.

Absci Company Profile

Absci Corporation (NASDAQ: ABSI) is a biotechnology company that applies machine learning, synthetic biology and automation to accelerate the discovery and development of protein-based therapeutics. The company’s Integrated Drug Creation® (IDC®) platform is designed to identify and produce novel antibody and enzyme candidates at speeds and scales that traditional biopharma discovery methods cannot match. Absci works with pharmaceutical and biotechnology partners to generate, screen and optimize protein molecules for a wide range of therapeutic applications.

The core of Absci’s offering is its end-to-end discovery engine, which combines proprietary algorithms, high-throughput laboratory automation and a deep learning framework.