Guggenheim Reiterates Buy Rating for Absci Corporation
Guggenheim maintains its Buy rating on Absci Corporation with a $15 price target.
Key Points
- Guggenheim reiterated its Buy rating for Absci Corporation on June 15, 2026, with a price target of $15.
- Absci's shares recently traded at $7.38, with a market cap of about $1.06 billion and a 52-week high of $7.39.
- Insider buying activity at Absci included multiple purchases on June 4, 2026, with shares bought by several insiders.
Guggenheim has reaffirmed its Buy rating on Absci Corporation (NasdaqGS: ABSI) with a price target of $15, as announced on June 15, 2026. This comes as the stock trades around $7.38, reflecting the firm's continued confidence in the company's prospects.
Analysts Set New Price Targets
On June 15, 2026, Guggenheim maintained its Buy rating on Absci Corporation, setting a $15 price target. Other analysts also expressed positive outlooks: Leerink Partners initiated coverage with a Buy rating and a $12 target on June 4, 2026, while BTIG started with a Buy rating and a $9 target on May 28, 2026. Truist Securities maintained its Buy rating with an $11 target on May 8, 2026.
Other Institutional Activity in Absci Corporation
Several institutional investors have adjusted their stakes in Absci Corporation. FMR LLC increased its holdings by 168,995 shares, reaching 22,550,997 shares valued at approximately $67.65 million. ARK Investment Management LLC added 1,175,370 shares, bringing its total to 13,726,169 shares worth about $41.18 million. Meanwhile, BlackRock, Inc. slightly reduced its position by 78,238 shares, now holding 11,255,194 shares valued at around $33.77 million. State Street Corp significantly boosted its stake by 1,333,981 shares to 7,324,858, valued at $21.97 million.
Absci Corporation Stock Snapshot
Shares of Absci Corporation (NasdaqGS: ABSI) are trading near $7.38. The company has a market cap of approximately $1.06 billion. Despite not being profitable, Absci's forward P/E ratio is noted as negative. The stock has a 52-week range between $2.24 and $7.39, with a 50-day moving average of $4.95 and a 200-day moving average of $3.61. The company maintains a strong current ratio of 6.59, indicating solid liquidity.
Insider Buying and Selling at Absci Corporation
On June 4, 2026, several insiders at Absci Corporation made notable purchases. Karen McGinnis acquired a total of 49,900 shares, while Mary Szela, Menelas Pangalos, and Frans Van Houten each bought 39,800 shares. These transactions were not part of a pre-planned trading program.
About Absci Corporation
Absci Corporation is a biotechnology company headquartered in Vancouver, Washington. It focuses on developing antibody therapeutics, with programs targeting conditions like inflammatory bowel disease and oncology. Absci collaborates with various organizations, including PrecisionLife and Memorial Sloan Kettering Cancer Center, to advance its research and development efforts.
Bottom Line
Guggenheim's reiterated Buy rating and $15 target highlight continued confidence in Absci Corporation's potential. While the company is not yet profitable, its strategic partnerships and development programs are closely watched by investors. As always, remember that analyst ratings and institutional filings are backward-looking and may not reflect current market conditions.
See Also
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