Absci (NASDAQ:ABSI – Get Rating) had its price objective decreased by equities researchers at Credit Suisse Group from $29.00 to $28.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Credit Suisse Group’s price target suggests a potential upside of 274.33% from the stock’s current price.
Several other equities research analysts have also recently weighed in on ABSI. Berenberg Bank assumed coverage on Absci in a report on Tuesday, February 1st. They issued a “buy” rating and a $28.00 target price for the company. Zacks Investment Research cut shares of Absci from a “hold” rating to a “sell” rating in a report on Monday, March 7th. Finally, Cowen initiated coverage on shares of Absci in a report on Wednesday, March 2nd. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $22.50.
Shares of Absci stock opened at $7.48 on Wednesday. Absci has a 52 week low of $5.63 and a 52 week high of $31.53. The stock’s fifty day moving average is $7.91 and its two-hundred day moving average is $10.14. The company has a quick ratio of 9.94, a current ratio of 9.94 and a debt-to-equity ratio of 0.01.
Absci (NASDAQ:ABSI – Get Rating) last announced its quarterly earnings data on Tuesday, March 22nd. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). Absci had a negative net margin of 1,332.67% and a negative return on equity of 258.68%. As a group, research analysts predict that Absci will post -0.38 EPS for the current year.
In other Absci news, General Counsel Sarah Korman purchased 4,250 shares of Absci stock in a transaction dated Wednesday, February 9th. The shares were acquired at an average price of $7.96 per share, with a total value of $33,830.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sean Mcclain purchased 7,155 shares of the stock in a transaction that occurred on Wednesday, January 19th. The stock was acquired at an average cost of $6.92 per share, with a total value of $49,512.60. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 13,405 shares of company stock worth $98,343.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Absci in the third quarter valued at approximately $7,345,000. Ghisallo Capital Management LLC bought a new stake in Absci during the third quarter worth approximately $116,000. Sands Capital Ventures LLC bought a new position in shares of Absci in the third quarter valued at $672,000. Cubist Systematic Strategies LLC acquired a new position in Absci in the 3rd quarter worth approximately $578,000. Finally, Deutsche Bank AG purchased a new stake in Absci in the 3rd quarter worth approximately $93,000. 38.26% of the stock is owned by institutional investors and hedge funds.
About Absci
Absci Corporation is the AI-powered synthetic biology company unlocking the potential of proteins as the next generation of therapeutics. The company’s Creation(TM) Platform involved in discovery of novel biotherapeutic drug candidates and generation of the cell lines to manufacture them in a single efficient process.