Absci (NASDAQ:ABSI) Price Target Lowered to $5.00 at KeyCorp

Absci (NASDAQ:ABSI) had its price objective cut by analysts at KeyCorp from $6.00 to $5.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s target price suggests a potential upside of 54.32% from the stock’s previous close.

Several other research analysts also recently weighed in on ABSI. Guggenheim restated a “buy” rating and set a $10.00 target price on shares of Absci in a research note on Tuesday, December 3rd. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Absci in a research note on Wednesday. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $8.50.

Absci Stock Up 5.5 %

Absci stock traded up $0.17 during midday trading on Wednesday, hitting $3.24. 57,672,000 shares of the company’s stock were exchanged, compared to its average volume of 13,571,746. Absci has a 12 month low of $2.45 and a 12 month high of $6.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63. The company has a market cap of $372.13 million, a PE ratio of -3.48 and a beta of 2.04. The firm has a 50-day moving average of $3.24 and a two-hundred day moving average of $3.69.

Absci (NASDAQ:ABSI) last announced its earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The company had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.77 million. Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. During the same period last year, the business posted ($0.24) EPS. As a group, analysts expect that Absci will post -0.9 earnings per share for the current fiscal year.

Institutional Trading of Absci

Several institutional investors have recently modified their holdings of ABSI. FMR LLC lifted its holdings in Absci by 1.2% in the 3rd quarter. FMR LLC now owns 12,727,760 shares of the company’s stock valued at $48,620,000 after purchasing an additional 147,156 shares in the last quarter. Fred Alger Management LLC lifted its stake in shares of Absci by 4.3% in the third quarter. Fred Alger Management LLC now owns 7,566,618 shares of the company’s stock worth $28,904,000 after buying an additional 309,843 shares in the last quarter. ARK Investment Management LLC raised its holdings in Absci by 15.1% in the 3rd quarter. ARK Investment Management LLC now owns 6,337,622 shares of the company’s stock valued at $24,210,000 after acquiring an additional 833,734 shares during the last quarter. Geode Capital Management LLC lifted its position in Absci by 6.8% during the third quarter. Geode Capital Management LLC now owns 1,933,593 shares of the company’s stock worth $7,388,000 after buying an additional 123,896 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in Absci by 23.3% in the 2nd quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock valued at $5,648,000 after buying an additional 347,079 shares in the last quarter. Institutional investors and hedge funds own 52.05% of the company’s stock.

Absci Company Profile

Absci Corporation operates as a data-first generative artificial intelligence (AI) drug creation company in the United States. The company combines AI with scalable wet lab technologies to create biologics for patients. Its integrated drug creation platform is designed to improve upon traditional biologic drug discovery by using AI to simultaneously optimize multiple drug characteristics that may be important to development and therapeutic benefit.