Guggenheim Initiates Coverage on Absci (NASDAQ:ABSI)

Guggenheim began coverage on shares of Absci (NASDAQ:ABSIGet Free Report) in a note issued to investors on Wednesday, MarketBeat.com reports. The firm set a “buy” rating and a $10.00 price target on the stock. Guggenheim’s target price points to a potential upside of 162.47% from the stock’s current price.

Several other research firms have also recently issued reports on ABSI. KeyCorp decreased their price target on shares of Absci from $8.00 to $6.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Absci in a research report on Thursday, August 15th. Finally, Morgan Stanley began coverage on Absci in a research report on Wednesday, July 3rd. They issued an “overweight” rating and a $7.00 price objective on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Absci has an average rating of “Buy” and an average target price of $8.67.

Check Out Our Latest Report on ABSI

Absci Price Performance

Shares of ABSI opened at $3.81 on Wednesday. The firm has a market capitalization of $430.85 million, a PE ratio of -3.28 and a beta of 2.19. The stock’s 50 day moving average is $4.04 and its two-hundred day moving average is $4.34. Absci has a twelve month low of $1.11 and a twelve month high of $6.72. The company has a current ratio of 6.49, a quick ratio of 6.49 and a debt-to-equity ratio of 0.01.

Absci (NASDAQ:ABSIGet Free Report) last released its earnings results on Wednesday, August 14th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.05 million. During the same period last year, the business posted ($0.27) EPS. Research analysts anticipate that Absci will post -0.8 earnings per share for the current year.

Institutional Trading of Absci

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC grew its position in shares of Absci by 153.8% during the 4th quarter. Hsbc Holdings PLC now owns 407,579 shares of the company’s stock valued at $1,769,000 after buying an additional 247,019 shares during the last quarter. Salem Investment Counselors Inc. bought a new position in Absci in the 1st quarter worth about $122,000. Cannon Global Investment Management LLC acquired a new stake in shares of Absci in the first quarter valued at approximately $104,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Absci during the first quarter worth approximately $2,390,000. Finally, Capstone Investment Advisors LLC bought a new position in Absci in the 1st quarter worth approximately $1,477,000. Institutional investors own 52.05% of the company’s stock.

Absci Company Profile

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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.

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Analyst Recommendations for Absci (NASDAQ:ABSI)

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