BTIG Reiterates Buy Rating on Absci Corporation
BTIG maintains its Buy rating on Absci Corporation, setting a price target of $13, a 19.38% upside from the current price.
Key Points
- BTIG reiterated its Buy rating on Absci Corporation, setting a price target of $13 as of June 24, 2026.
- BTIG's $13 price target implies 19.38% upside from Absci Corporation's ($ABSI) current $10.89 share price.
- Shares of Absci Corporation traded at $9.64 on Wednesday, with a market cap of approximately $1.31 billion.
- Recent insider activity at Absci includes multiple buy transactions by Mary Szela and others on June 4, 2026.
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BTIG reiterated its Buy rating on Absci Corporation (NasdaqGS: ABSI) on June 24, 2026. The firm set a price target of $13 for the biotechnology company. Shares of Absci were trading at $9.64 on Wednesday.
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Absci Corporation Stock Up 25.0%
Shares of Absci Corporation traded near $9.64 on Wednesday. The company has a market cap of about $1.31 billion and a beta of 2.457, indicating higher volatility compared to the market. Absci's 52-week range shows a low of $2.24 and a high of $8.57. The stock has a 50-day moving average of $5.29 and a 200-day moving average of $3.71. Absci's current ratio is strong at 6.59, with a quick ratio of 6.28 and a debt-to-equity ratio of 2.57.
$ABSI price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Other Institutional Activity in Absci Corporation
Several major funds have adjusted their holdings in Absci Corporation. FMR LLC increased its holdings by 168,995 shares, ending with 22,550,997 shares valued at about $67.7 million. ARK Investment Management LLC added 1,175,370 shares, bringing its total to 13,726,169 shares worth approximately $41.2 million, marking a 9.4% increase. BlackRock, Inc. slightly reduced its position by 78,238 shares, holding 11,255,194 shares valued at around $33.8 million. State Street Corp significantly increased its stake by 1,333,981 shares, resulting in a 22.3% boost, with a total of 7,324,858 shares worth $21.97 million. Vanguard Capital Management LLC opened a new position with 5,886,640 shares valued at roughly $17.7 million.
Insider Buying and Selling at Absci Corporation
There was notable insider buying at Absci Corporation on June 4, 2026. Mary Szela purchased 33,200 shares and an additional 8,400 shares. Karen McGinnis acquired 10,100 shares and 39,800 shares, while Menelas Pangalos bought 39,800 shares. These transactions were not part of a pre-planned trading program.
Analysts Set New Price Targets
On June 24, 2026, BTIG maintained its Buy rating on Absci Corporation with a $13 price target. Earlier, on June 15, Guggenheim also maintained a Buy rating, setting a target of $15. On June 4, Leerink Partners initiated coverage with a Buy rating and a $12 target. The consensus among analysts is a Strong Buy, with a mean target price of $9.61 based on 10 opinions.
About Absci Corporation
Absci Corporation is a biotechnology company based in Vancouver, Washington. It focuses on developing antibody therapeutics for various medical conditions. Some of its key programs include ABS-101 for inflammatory bowel disease, ABS-201 for androgenic alopecia, ABS-301 for immuno-oncology, and ABS-501 for oncology. Founded in 2011, Absci collaborates with several partners for research and development, including PrecisionLife and Memorial Sloan Kettering Cancer Center.
Bottom Line
BTIG's reiterated Buy rating with a $13 target reflects confidence in Absci Corporation's potential despite its current trading price of $9.64. Investors watch these ratings closely, although they are backward-looking and may not indicate future performance. Institutional activity and insider transactions also offer insights into market sentiment around the company.
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