Absci (NASDAQ:ABSI) Shares Gap Up Following Analyst Upgrade
by Sarita Garza · The Markets DailyShares of Absci Corporation (NASDAQ:ABSI – Get Free Report) gapped up prior to trading on Wednesday after HC Wainwright raised their price target on the stock from $8.00 to $16.00. The stock had previously closed at $7.41, but opened at $9.51. HC Wainwright currently has a buy rating on the stock. Absci shares last traded at $8.92, with a volume of 12,858,146 shares changing hands.
A number of other research analysts also recently issued reports on the stock. Leerink Partners began coverage on shares of Absci in a research report on Thursday, June 4th. They issued an “outperform” rating and a $12.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Absci in a report on Monday, April 20th. Truist Financial lifted their price objective on Absci from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Guggenheim raised their target price on Absci from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target (up from $7.00) on shares of Absci in a research note on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.57.
Read Our Latest Research Report on Absci
More Absci News
Here are the key news stories impacting Absci this week:
- Positive Sentiment: Absci reported positive interim Phase 1 data for ABS-201 in its HEADLINE trial, saying the drug was well tolerated across single-ascending-dose cohorts with no serious adverse events and a long estimated half-life that could support infrequent dosing. Article: Absci Announces Positive Interim Phase 1 Data from the HEADLINE Trial of ABS-201
- Positive Sentiment: The company said the data advanced the study into the multiple-ascending-dose phase, keeping the ABS-201 hair-loss program on track for additional proof-of-concept readouts later in 2026 and early 2027. Article: ABSI Soars 36% on Positive Interim Update From Phase I Hair Loss Study
- Positive Sentiment: Absci also priced a $100 million underwritten offering, with participation from Eli Lilly and other institutional investors, providing capital to fund ABS-201 development across androgenetic alopecia and endometriosis. Article: Absci Announces Pricing of $100 Million Underwritten Offering
- Neutral Sentiment: Analyst updates were mixed but generally supportive, with Needham and BTIG both reiterating buy ratings and raising price targets, which may help reinforce the recent momentum in ABSI shares.
- Neutral Sentiment: Absci reached a new 52-week high and saw heavy trading volume, suggesting the stock’s move is being driven by strong investor reaction to the clinical and financing news.
- Negative Sentiment: The share sale introduces dilution, and some commentary noted that further upside may depend on whether later-stage data continues to validate the early encouraging results.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in ABSI. AQR Capital Management LLC increased its position in shares of Absci by 279.4% during the first quarter. AQR Capital Management LLC now owns 55,538 shares of the company’s stock worth $139,000 after acquiring an additional 40,901 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Absci by 17.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 314,858 shares of the company’s stock valued at $790,000 after acquiring an additional 46,975 shares in the last quarter. Woodline Partners LP lifted its position in Absci by 32.9% in the 1st quarter. Woodline Partners LP now owns 1,391,245 shares of the company’s stock valued at $3,492,000 after acquiring an additional 344,270 shares in the last quarter. Geode Capital Management LLC boosted its stake in Absci by 22.5% during the 2nd quarter. Geode Capital Management LLC now owns 2,445,450 shares of the company’s stock valued at $6,286,000 after purchasing an additional 448,984 shares during the last quarter. Finally, Creative Planning boosted its stake in Absci by 145.4% during the 2nd quarter. Creative Planning now owns 46,882 shares of the company’s stock valued at $120,000 after purchasing an additional 27,775 shares during the last quarter. 52.05% of the stock is owned by institutional investors.
Absci Trading Up 1.4%
The business has a fifty day simple moving average of $5.80 and a 200 day simple moving average of $4.01. The stock has a market capitalization of $1.59 billion, a P/E ratio of -12.30 and a beta of 2.44.
Absci (NASDAQ:ABSI – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.01. The firm had revenue of $0.21 million during the quarter, compared to the consensus estimate of $1.39 million. Absci had a negative return on equity of 66.32% and a negative net margin of 6,450.76%. As a group, research analysts forecast that Absci Corporation will post -0.72 earnings per share for the current year.
About Absci
Absci Corporation (NASDAQ: ABSI) is a biotechnology company that applies machine learning, synthetic biology and automation to accelerate the discovery and development of protein-based therapeutics. The company’s Integrated Drug Creation® (IDC®) platform is designed to identify and produce novel antibody and enzyme candidates at speeds and scales that traditional biopharma discovery methods cannot match. Absci works with pharmaceutical and biotechnology partners to generate, screen and optimize protein molecules for a wide range of therapeutic applications.
The core of Absci’s offering is its end-to-end discovery engine, which combines proprietary algorithms, high-throughput laboratory automation and a deep learning framework.