Absci (NASDAQ:ABSI) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Absci (NASDAQ:ABSI - Free Report) in a report issued on Wednesday, MarketBeat Ratings reports. They currently have a $9.00 price objective on the stock.

Several other brokerages have also recently commented on ABSI. HC Wainwright reissued a "buy" rating and issued a $7.00 price target on shares of Absci in a research note on Friday, January 17th. KeyCorp decreased their target price on Absci from $6.00 to $5.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Finally, Guggenheim reaffirmed a "buy" rating and set a $10.00 target price on shares of Absci in a research report on Tuesday, December 3rd. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $8.57.

Absci Stock Down 1.0 %

Shares of NASDAQ ABSI traded down $0.03 during trading hours on Wednesday, hitting $3.01. The stock had a trading volume of 3,204,118 shares, compared to its average volume of 2,393,674. The company has a market capitalization of $383.28 million, a P/E ratio of -3.24 and a beta of 2.09. The firm's 50-day moving average price is $3.86 and its two-hundred day moving average price is $3.66. Absci has a 52 week low of $2.45 and a 52 week high of $6.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63.

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Absci (NASDAQ:ABSI - Get Free Report) last announced its quarterly earnings results on Tuesday, March 18th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The firm had revenue of $0.67 million during the quarter, compared to the consensus estimate of $1.77 million. Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. Analysts anticipate that Absci will post -0.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Absci

Several hedge funds have recently modified their holdings of the business. Two Sigma Advisers LP boosted its position in shares of Absci by 191.9% in the fourth quarter. Two Sigma Advisers LP now owns 676,400 shares of the company's stock valued at $1,772,000 after acquiring an additional 444,700 shares during the period. Two Sigma Investments LP boosted its position in shares of Absci by 97.2% in the fourth quarter. Two Sigma Investments LP now owns 899,648 shares of the company's stock valued at $2,357,000 after acquiring an additional 443,410 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of 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 acquiring an additional 1,976 shares during the period. Deutsche Bank AG boosted its position in shares of Absci by 60.9% in the fourth quarter. Deutsche Bank AG now owns 74,170 shares of the company's stock valued at $194,000 after acquiring an additional 28,073 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Absci by 18.0% in the fourth quarter. Bank of America Corp DE now owns 88,197 shares of the company's stock valued at $231,000 after acquiring an additional 13,476 shares during the period. 52.05% of the stock is owned by institutional investors.

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.