Absci (NASDAQ:ABSI) Receives “Buy” Rating from Guggenheim

Guggenheim reiterated their buy rating on shares of Absci (NASDAQ:ABSI) in a research note published on Thursday morning,Benzinga reports. Guggenheim currently has a $10.00 price objective on the stock.

Other research analysts have also recently issued research reports about the company. KeyCorp cut their price objective on Absci from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Absci in a report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $9.00 price objective on shares of Absci in a report on Wednesday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Absci currently has an average rating of “Buy” and an average price target of $8.57.

Absci Stock Performance

NASDAQ ABSI opened at $3.04 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63. The company has a fifty day moving average price of $3.86 and a 200-day moving average price of $3.67. Absci has a 1 year low of $2.45 and a 1 year high of $6.72. The firm has a market cap of $349.16 million, a price-to-earnings ratio of -3.27 and a beta of 2.09.

Absci (NASDAQ:ABSI) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. The firm had revenue of $0.67 million during the quarter, compared to analysts’ expectations of $1.77 million. As a group, equities research analysts predict that Absci will post -0.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Absci

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PCA Investment Advisory Services Inc. purchased a new position in shares of Absci in the fourth quarter worth about $26,000. Alpha Cubed Investments LLC bought a new position in Absci in the 4th quarter worth approximately $26,000. Ballentine Partners LLC purchased a new position in Absci in the 4th quarter valued at approximately $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 purchased a new stake in shares of Absci during the fourth quarter worth $37,000. 52.05% of the stock is currently 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.