Absci (NASDAQ:ABSI) Price Target Raised to $15.00

Absci (NASDAQ:ABSI) had its price target lifted by JPMorgan Chase & Co. from $14.00 to $15.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts have also issued reports on ABSI. Weiss Ratings reissued a “sell (d-)” rating on shares of Absci in a research note on Friday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price target on shares of Absci in a research note on Wednesday, September 23rd. Wall Street Zen upgraded shares of Absci from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Truist Financial lifted their price objective on shares of Absci from $11.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Finally, Guggenheim reissued a “buy” rating on shares of Absci in a research report on Monday, September 28th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.88.

Absci Stock Down 4.0%

Shares of Absci stock opened at $8.74 on Monday. The stock’s fifty day moving average is $9.34 and its two-hundred day moving average is $7.53. Absci has a 52 week low of $2.24 and a 52 week high of $12.06. The company has a market capitalization of $1.50 billion, a PE ratio of -10.92 and a beta of 2.27.

Absci (NASDAQ:ABSI) last released its earnings results on Tuesday, August 11th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Absci had a negative return on equity of 61.71% and a negative net margin of 7,756.38%. The business had revenue of $0.32 million during the quarter, compared to analysts’ expectations of $0.92 million. As a group, research analysts anticipate that Absci will post -0.74 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ABSI. Integrated Wealth Concepts LLC purchased a new position in Absci during the 2nd quarter worth $53,000. Essential Partners LLC raised its position in Absci by 113,850.0% during the 1st quarter. Essential Partners LLC now owns 9,116 shares of the company’s stock valued at $27,000 after purchasing an additional 9,108 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Absci in the 1st quarter worth $31,000. Persistent Asset Partners Ltd purchased a new stake in shares of Absci in the 2nd quarter worth $123,000. Finally, HB Wealth Management LLC lifted its holdings in shares of Absci by 28.4% in the 1st quarter. HB Wealth Management LLC now owns 12,942 shares of the company’s stock worth $39,000 after buying an additional 2,862 shares during the period. Institutional investors own 52.05% of the company’s stock.

About Absci

Absci Corporation is a biotechnology company that uses generative artificial intelligence and integrated laboratory technologies to discover and develop new medicines. The company focuses primarily on biologics, including antibody-based therapies, and aims to accelerate the process of moving from drug concept to candidate development.

Absci’s platform combines artificial intelligence models with biological data generation and laboratory experimentation. Its capabilities include protein and antibody design, target and candidate evaluation, and the development of cell lines and manufacturing processes intended to support biologic drug production.