Absci initiated with a Buy at Guggenheim

Guggenheim last night initiated coverage of Absci with a Buy rating and $10 price target As advancements in artificial intelligence architecture, exemplified by the large language models, are catalyzing shifts across various industries, Absci may be “uniquely positioned” to pioneer the use of these tools for creating first- and best-in-class biologics, the analyst tells investors in a research note. The firm believes Absci has “combined founder drive with seasoned strategic insight to rapidly emerge as a pioneer in this exciting new space.” Guggenheim says Absci’s proprietary platform can evaluate millions of antibody variants in weeks, offering a potential advantage in the evolving techbio landscape.