Absci's (ABSI) "Buy" Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Absci (NASDAQ:ABSI - Free Report) in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a $9.00 price target on the stock.

A number of other research firms also recently commented on ABSI. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 target price on shares of Absci in a research report on Wednesday, March 19th. KeyCorp reduced their target price on Absci from $6.00 to $5.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Finally, Guggenheim restated a "buy" rating and set a $10.00 price target on shares of Absci in a research note on Thursday, March 20th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $7.60.

Absci Stock Down 3.3 %

Shares of ABSI stock traded down $0.10 on Wednesday, reaching $2.92. 2,280,357 shares of the stock were exchanged, compared to its average volume of 2,521,989. The company has a market capitalization of $371.87 million, a price-to-earnings ratio of -3.14 and a beta of 2.22. The business's 50 day moving average price is $3.56 and its 200 day moving average price is $3.50. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.01. Absci has a twelve month low of $2.01 and a twelve month high of $6.33.

Absci (NASDAQ:ABSI - Get Free Report) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.03). The business had revenue of $0.67 million during the quarter, compared to analysts' expectations of $1.77 million. Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. As a group, sell-side analysts expect that Absci will post -0.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Absci

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in shares of Absci by 1.1% in the fourth quarter. Wellington Management Group LLP now owns 352,805 shares of the company's stock valued at $924,000 after purchasing an additional 3,951 shares during the period. Two Sigma Advisers LP increased its stake in shares of Absci by 191.9% during the fourth quarter. Two Sigma Advisers LP now owns 676,400 shares of the company's stock worth $1,772,000 after acquiring an additional 444,700 shares during the period. Two Sigma Investments LP raised its holdings in Absci by 97.2% during the fourth 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 position in Absci by 4.5% in 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 period. Finally, Deutsche Bank AG boosted its holdings in Absci by 60.9% in the 4th quarter. Deutsche Bank AG now owns 74,170 shares of the company's stock valued at $194,000 after purchasing an additional 28,073 shares in the last quarter. Institutional investors and hedge funds 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.