Absci Co. (NASDAQ:ABSI) Given Average Rating of “Buy” by Analysts

Shares of Absci Co. (NASDAQ:ABSI) have been assigned a consensus rating of “Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $8.57.

Several brokerages recently commented on ABSI. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Absci in a report on Friday, January 17th. Guggenheim restated a “buy” rating and set a $10.00 target price on shares of Absci in a report on Tuesday, December 3rd. KeyCorp cut their price target on shares of Absci from $6.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, Needham & Company LLC started coverage on shares of Absci in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $9.00 price target for the company.

Absci Stock Performance

Shares of ABSI opened at $3.36 on Friday. Absci has a 12 month low of $2.45 and a 12 month high of $6.72. The firm has a fifty day simple moving average of $3.84 and a 200 day simple moving average of $3.77. The stock has a market capitalization of $385.92 million, a price-to-earnings ratio of -3.61 and a beta of 2.11. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On Absci

Hedge funds have recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. increased its holdings in Absci by 28.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,829 shares of the company’s stock valued at $2,997,000 after buying an additional 253,985 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Absci by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 49,379 shares of the company’s stock valued at $189,000 after purchasing an additional 6,409 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Absci during the 4th quarter valued at approximately $111,000. ARK Investment Management LLC grew its holdings in shares of Absci by 30.4% during the 4th quarter. ARK Investment Management LLC now owns 8,265,936 shares of the company’s stock valued at $21,657,000 after purchasing an additional 1,928,314 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Absci by 379.6% during the 3rd quarter. Barclays PLC now owns 131,504 shares of the company’s stock valued at $503,000 after purchasing an additional 104,083 shares during the last quarter. 52.05% of the stock is owned by institutional investors.

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.