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

Shares of Absci Co. (NASDAQ:ABSI - Get Free Report) have been given an average recommendation of "Buy" by the seven analysts that are covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $8.57.

Several research analysts have recently commented on the company. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 price objective on shares of Absci in a research note on Friday, January 17th. KeyCorp decreased their price objective on Absci from $6.00 to $5.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Guggenheim reaffirmed a "buy" rating and issued a $10.00 price objective on shares of Absci in a research note on Tuesday, December 3rd. Finally, Needham & Company LLC began coverage on Absci in a research note on Wednesday, January 22nd. They issued a "buy" rating and a $9.00 price objective on the stock.

Absci Stock Performance

ABSI stock traded down $0.15 during trading on Friday, reaching $3.27. The stock had a trading volume of 7,340,317 shares, compared to its average volume of 6,680,006. Absci has a 52 week low of $2.45 and a 52 week high of $6.72. The stock's 50 day moving average is $3.83 and its two-hundred day moving average is $3.77. 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 firm has a market cap of $375.58 million, a PE ratio of -3.52 and a beta of 2.11.

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Institutional Trading of Absci

Institutional investors have recently made changes to their positions in the business. PCA Investment Advisory Services Inc. purchased a new position in Absci during the 4th quarter valued at approximately $26,000. Alpha Cubed Investments LLC purchased a new position in Absci during the 4th quarter valued at approximately $26,000. Ballentine Partners LLC purchased a new position in Absci during the 4th quarter valued at approximately $27,000. BNP Paribas Financial Markets purchased a new position in Absci during the 4th quarter valued at approximately $28,000. Finally, Verdence Capital Advisors LLC purchased a new position in Absci during the 4th quarter valued at approximately $37,000. 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.