Absci (NASDAQ:ABSI) Now Covered by Needham & Company LLC

Needham & Company LLC began coverage on shares of Absci (NASDAQ:ABSI - Free Report) in a research note released on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $9.00 price objective on the stock.

Other research analysts also recently issued reports about the company. KeyCorp dropped their target price on Absci from $6.00 to $5.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. HC Wainwright restated a "buy" rating and set a $7.00 target price on shares of Absci in a research note on Friday, January 17th. Finally, Guggenheim restated a "buy" rating and set a $10.00 target price on shares of Absci in a research note on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $8.57.

Absci Stock Up 3.5 %

Shares of NASDAQ:ABSI traded up $0.14 on Wednesday, reaching $4.17. The company had a trading volume of 6,975,999 shares, compared to its average volume of 9,241,206. Absci has a 52-week low of $2.45 and a 52-week high of $6.72. The firm's 50 day simple moving average is $3.07 and its 200-day simple moving average is $3.68. The firm has a market capitalization of $478.95 million, a PE ratio of -4.48 and a beta of 2.04. 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 (NASDAQ:ABSI - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.05). Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. The company had revenue of $1.70 million during the quarter, compared to analysts' expectations of $1.77 million. During the same quarter in the prior year, the business posted ($0.24) earnings per share. As a group, analysts expect that Absci will post -0.9 earnings per share for the current fiscal year.

Institutional Trading of Absci

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABSI. PCA Investment Advisory Services Inc. acquired a new position in shares of Absci in the 4th quarter valued at about $26,000. Alpha Cubed Investments LLC acquired a new position in shares of Absci in the 4th quarter valued at about $26,000. Ballentine Partners LLC acquired a new position in shares of Absci in the 4th quarter valued at about $27,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Absci in the 3rd quarter valued at about $53,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Absci by 119.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company's stock valued at $72,000 after buying an additional 10,275 shares during the period. Institutional investors and hedge funds own 52.05% of the company's stock.

Absci Company Profile

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.