Absci (NASDAQ:ABSI) Shares Gap Up – What’s Next?

Absci Co. (NASDAQ:ABSI) shares gapped up before the market opened on Tuesday . The stock had previously closed at $5.82, but opened at $6.27. Absci shares last traded at $6.29, with a volume of 3,597,708 shares traded.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of Absci in a research note on Friday, January 17th. KeyCorp decreased their price objective 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. Guggenheim reiterated a “buy” rating and set a $10.00 price objective on shares of Absci in a research note on Tuesday, December 3rd. Finally, Needham & Company LLC began 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. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $8.57.

Absci Stock Down 6.8 %

The firm has a market capitalization of $596.12 million, a PE ratio of -5.58 and a beta of 2.11. The firm’s 50 day moving average price is $3.67 and its two-hundred day moving average price is $3.75. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.01.

Institutional Trading of Absci

Institutional investors have recently added to or reduced their stakes in the stock. PCA Investment Advisory Services Inc. acquired a new stake in Absci in the fourth quarter valued at $26,000. Alpha Cubed Investments LLC acquired a new stake in Absci in the fourth quarter valued at $26,000. Ballentine Partners LLC acquired a new stake in Absci in the fourth quarter valued at $27,000. BNP Paribas Financial Markets acquired a new stake in Absci in the fourth quarter valued at $28,000. Finally, Verdence Capital Advisors LLC acquired a new stake in Absci in the fourth quarter valued at $37,000. 52.05% of the stock is owned by institutional investors and hedge funds.

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.