Absci (NASDAQ:ABSI) Given Buy Rating at Guggenheim

Absci (NASDAQ:ABSI)‘s stock had its “buy” rating reiterated by Guggenheim in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $10.00 price target on the stock. Guggenheim’s target price points to a potential upside of 232.34% from the stock’s previous close.

A number of other research firms have also issued reports on ABSI. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price target on shares of Absci in a research report on Wednesday. KeyCorp reduced their target price on shares of Absci from $6.00 to $5.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Absci in a report on Wednesday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Absci presently has an average rating of “Buy” and a consensus price target of $8.57.

Absci Trading Up 1.0 %

Shares of ABSI stock opened at $3.01 on Thursday. Absci has a fifty-two week low of $2.45 and a fifty-two week high of $6.72. The company has a 50 day moving average price of $3.87 and a 200 day moving average price of $3.68. The stock has a market capitalization of $345.60 million, a P/E ratio of -3.22 and a beta of 2.09. 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 (NASDAQ:ABSI) last posted 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 business had revenue of $0.67 million during the quarter, compared to analyst estimates of $1.77 million. Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. Equities research analysts predict that Absci will post -0.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Absci by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,800 shares of the company’s stock worth $120,000 after purchasing an additional 1,976 shares during the period. Price T Rowe Associates Inc. MD increased its position in Absci by 14.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,333 shares of the company’s stock valued at $77,000 after acquiring an additional 3,747 shares during the period. Wellington Management Group LLP raised its stake in Absci by 1.1% during the 4th quarter. Wellington Management Group LLP now owns 352,805 shares of the company’s stock valued at $924,000 after acquiring an additional 3,951 shares during the last quarter. Rhumbline Advisers lifted its position in Absci by 4.2% during the 4th quarter. Rhumbline Advisers now owns 114,152 shares of the company’s stock worth $299,000 after acquiring an additional 4,593 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Absci by 15.1% in the fourth quarter. Invesco Ltd. now owns 43,535 shares of the company’s stock valued at $114,000 after purchasing an additional 5,719 shares during the period. 52.05% of the stock is owned by hedge funds and other 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.