Scotiabank reaffirmed their outperform rating on shares of Absci (NASDAQ:ABSI – Free Report) in a report released on Monday morning, Stock Target Advisor reports. The brokerage currently has a $13.00 target price on the stock.
Several other brokerages have also recently commented on ABSI. HC Wainwright reiterated a buy rating and set a $7.00 target price on shares of Absci in a research report on Friday, March 22nd. KeyCorp upped their target price on shares of Absci from $5.00 to $8.00 and gave the company an overweight rating in a research report on Monday, March 4th. Finally, Truist Financial reiterated a buy rating and set a $9.00 target price on shares of Absci in a research report on Wednesday, March 6th.
Read Our Latest Analysis on ABSI
Absci Stock Up 2.5 %
Absci (NASDAQ:ABSI – Get Free Report) last issued its earnings results on Thursday, March 21st. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The business had revenue of $0.34 million for the quarter, compared to the consensus estimate of $1.75 million. Absci had a negative net margin of 1,933.65% and a negative return on equity of 44.52%. On average, analysts anticipate that Absci will post -0.77 EPS for the current year.
Insider Activity at Absci
In other news, Director Redmile Group, Llc bought 222,222 shares of the stock in a transaction on Friday, March 1st. The stock was purchased at an average price of $4.50 per share, for a total transaction of $999,999.00. Following the acquisition, the director now owns 8,253,316 shares in the company, valued at $37,139,922. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 11.58% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Absci
A number of large investors have recently added to or reduced their stakes in ABSI. JPMorgan Chase & Co. increased its holdings in Absci by 142.9% during the 1st quarter. JPMorgan Chase & Co. now owns 40,742 shares of the company’s stock worth $344,000 after purchasing an additional 23,967 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Absci by 377.7% during the 1st quarter. Bank of New York Mellon Corp now owns 138,823 shares of the company’s stock worth $1,171,000 after buying an additional 109,763 shares during the last quarter. MetLife Investment Management LLC acquired a new position in shares of Absci during the 1st quarter worth about $285,000. Metropolitan Life Insurance Co NY acquired a new position in shares of Absci during the 1st quarter worth about $33,000. Finally, Rhumbline Advisers acquired a new position in shares of Absci during the 1st quarter worth about $399,000. Institutional investors own 52.05% of the company’s stock.
About Absci
Absci Corporation operates as a generative AI drug creation company in the United States. Its integrated drug creation platform identifies novel drug targets and creates biotherapeutic candidates. The company was founded in 2011 and is headquartered in Vancouver, Washington.
Read More
- Five stocks we like better than Absci
- 3 Natural Gas Stocks That Offer Great Dividend Yields
- 3 Value Stocks Too Small For Buffett’s Portfolio
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- Foot Locker Builds Up Another Head of Steam; Gains Imminent
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- Disney Stock Catches 3 Upgrades In a Single Week
Receive News & Ratings for Absci Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Absci and related companies with MarketBeat.com's FREE daily email newsletter.