Absci Co. (NASDAQ:ABSI) Given Consensus Rating of “Buy” by Brokerages

Shares of Absci Co. (NASDAQ:ABSI) have received a consensus recommendation of “Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $8.57.

Several equities analysts recently weighed in on the stock. Guggenheim restated a “buy” rating and issued a $10.00 price objective on shares of Absci in a report on Tuesday, December 3rd. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Absci in a report on Friday, January 17th. KeyCorp cut their price objective 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, Needham & Company LLC assumed coverage on shares of Absci in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $9.00 target price for the company.

Institutional Investors Weigh In On Absci

Several large investors have recently bought and sold shares of the company. PCA Investment Advisory Services Inc. bought a new stake in shares of Absci during the fourth quarter worth $26,000. Alpha Cubed Investments LLC bought a new stake in shares of Absci during the fourth quarter worth $26,000. Ballentine Partners LLC bought a new stake in shares of Absci during the fourth quarter worth $27,000. BNP Paribas Financial Markets bought a new stake in shares of Absci during the fourth quarter worth $28,000. Finally, Verdence Capital Advisors LLC bought a new stake in shares of Absci during the fourth quarter worth $37,000. Institutional investors own 52.05% of the company’s stock.

Absci Trading Up 2.8 %

Shares of NASDAQ ABSI opened at $3.36 on Friday. The company’s 50 day simple moving average is $3.84 and its 200 day simple moving average is $3.77. Absci has a fifty-two week low of $2.45 and a fifty-two week high of $6.72. The firm has a market capitalization of $385.92 million, a P/E ratio of -3.61 and a beta of 2.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63.

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.