Absci (NASDAQ:ABSI) Earns Buy Rating from Guggenheim

Guggenheim reaffirmed their buy rating on shares of Absci (NASDAQ:ABSI - Free Report) in a research report sent to investors on Thursday,Benzinga reports. Guggenheim currently has a $10.00 target price on the stock.

Several other research firms have also recently commented on ABSI. Needham & Company LLC restated a "buy" rating and issued a $9.00 target price on shares of Absci in a research report on Wednesday, March 19th. HC Wainwright reissued a "buy" rating and set a $7.00 price target on shares of Absci in a report on Wednesday, March 19th. Finally, KeyCorp cut their price objective on shares of Absci from $6.00 to $5.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Absci currently has an average rating of "Buy" and a consensus price target of $8.57.

Absci Stock Performance

Shares of ABSI traded up $0.09 during midday trading on Thursday, hitting $3.10. 3,002,518 shares of the stock traded hands, compared to its average volume of 2,396,159. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63. Absci has a 1-year low of $2.45 and a 1-year high of $6.72. The business's 50 day moving average price is $3.87 and its two-hundred day moving average price is $3.65. The firm has a market capitalization of $394.74 million, a PE ratio of -3.33 and a beta of 2.09.

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Absci (NASDAQ:ABSI - Get Free Report) last posted its earnings results on Tuesday, March 18th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $0.67 million for the quarter, compared to analyst estimates of $1.77 million. Equities research analysts predict that Absci will post -0.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ABSI. Wellington Management Group LLP raised its position in Absci by 1.1% in the fourth quarter. Wellington Management Group LLP now owns 352,805 shares of the company's stock worth $924,000 after acquiring an additional 3,951 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of Absci by 191.9% in the 4th quarter. Two Sigma Advisers LP now owns 676,400 shares of the company's stock worth $1,772,000 after purchasing an additional 444,700 shares during the last quarter. Two Sigma Investments LP raised its holdings in shares of Absci by 97.2% in the 4th quarter. Two Sigma Investments LP now owns 899,648 shares of the company's stock worth $2,357,000 after purchasing an additional 443,410 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Absci by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,800 shares of the company's stock valued at $120,000 after purchasing an additional 1,976 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in Absci by 60.9% during the fourth quarter. Deutsche Bank AG now owns 74,170 shares of the company's stock worth $194,000 after buying an additional 28,073 shares in the last quarter. 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.