Shares of Absci Co. (NASDAQ:ABSI - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $5.82, but opened at $6.27. Absci shares last traded at $6.29, with a volume of 3,597,708 shares trading hands.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on ABSI shares. Needham & Company LLC started coverage on Absci in a research note on Wednesday, January 22nd. They issued a "buy" rating and a $9.00 target price on the stock. KeyCorp cut 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 issued a $7.00 target price on shares of Absci in a research note on Friday, January 17th. Finally, Guggenheim restated a "buy" rating and issued a $10.00 target price on shares of Absci in a research note on Tuesday, December 3rd. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $8.57.
View Our Latest Stock Analysis on ABSI
Absci Price Performance
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 company has a market cap of $569.13 million, a P/E ratio of -5.33 and a beta of 2.11. The business's fifty day moving average is $3.73 and its 200 day moving average is $3.77.
Institutional Investors Weigh In On Absci
Hedge funds have recently modified their holdings of the stock. PCA Investment Advisory Services Inc. bought a new stake in shares of Absci in the 4th quarter worth approximately $26,000. Alpha Cubed Investments LLC bought a new stake in shares of Absci in the 4th quarter worth approximately $26,000. Ballentine Partners LLC bought a new stake in Absci during the 4th quarter valued at $27,000. BNP Paribas Financial Markets bought a new stake in Absci during the 4th quarter valued at $28,000. Finally, Verdence Capital Advisors LLC bought a new stake in Absci during the 4th quarter valued at $37,000. Institutional investors own 52.05% of the company's stock.
About Absci
(
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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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