Needham Initiates Coverage of Absci (ABSI) with Buy Recommendation

Fintel reports that on January 22, 2025, Needham initiated coverage of Absci (NasdaqGS:ABSI) with a Buy recommendation.

Analyst Price Forecast Suggests 164.38% Upside

As of December 23, 2024, the average one-year price target for Absci is $8.51/share. The forecasts range from a low of $6.06 to a high of $13.65. The average price target represents an increase of 164.38% from its latest reported closing price of $3.22 / share.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Absci is 49MM, an increase of 1,070.72%. The projected annual non-GAAP EPS is -1.01.

What is the Fund Sentiment?

There are 268 funds or institutions reporting positions in Absci. This is an increase of 75 owner(s) or 38.86% in the last quarter. Average portfolio weight of all funds dedicated to ABSI is 0.06%, an increase of 9.12%. Total shares owned by institutions increased in the last three months by 16.11% to 94,798K shares. The put/call ratio of ABSI is 0.18, indicating a bullish outlook.

What are Other Shareholders Doing?

Redmile Group holds 8,253K shares representing 7.19% ownership of the company. No change in the last quarter.

ARKG - ARK Genomic Revolution ETF holds 7,609K shares representing 6.62% ownership of the company. In its prior filing, the firm reported owning 5,680K shares , representing an increase of 25.35%. The firm increased its portfolio allocation in ABSI by 45.17% over the last quarter.

Fred Alger Management holds 7,567K shares representing 6.59% ownership of the company. In its prior filing, the firm reported owning 7,257K shares , representing an increase of 4.09%. The firm increased its portfolio allocation in ABSI by 20.34% over the last quarter.

ARK Investment Management holds 6,338K shares representing 5.52% ownership of the company. In its prior filing, the firm reported owning 5,504K shares , representing an increase of 13.16%. The firm increased its portfolio allocation in ABSI by 47.19% over the last quarter.

AOFAX - Alger Small Cap Focus Fund holds 5,039K shares representing 4.39% ownership of the company. In its prior filing, the firm reported owning 5,643K shares , representing a decrease of 11.98%. The firm decreased its portfolio allocation in ABSI by 16.04% over the last quarter.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.