Absci (NASDAQ:ABSI) Price Target Cut to $5.00 by Analysts at KeyCorp

Absci (NASDAQ:ABSI) had its price target cut by KeyCorp from $6.00 to $5.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also recently weighed in on ABSI. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Absci in a report on Wednesday. Guggenheim reaffirmed a “buy” rating and set a $10.00 target price on shares of Absci in a report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $8.50.

Absci Stock Performance

Shares of NASDAQ:ABSI opened at $3.22 on Wednesday. The business has a fifty day moving average of $3.23 and a 200-day moving average of $3.68. The firm has a market cap of $369.84 million, a PE ratio of -3.46 and a beta of 2.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63. Absci has a twelve month low of $2.45 and a twelve month high of $6.72.

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

Institutional Trading of Absci

A number of large investors have recently made changes to their positions in the company. Marshall Wace LLP grew its stake in Absci by 23.3% in the second quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock valued at $5,648,000 after acquiring an additional 347,079 shares during the period. Barclays PLC grew its position in shares of Absci by 379.6% in the 3rd quarter. Barclays PLC now owns 131,504 shares of the company’s stock valued at $503,000 after purchasing an additional 104,083 shares during the period. Bank of Montreal Can bought a new stake in Absci during the 2nd quarter worth approximately $527,000. Squarepoint Ops LLC raised its holdings in Absci by 72.4% during the 2nd quarter. Squarepoint Ops LLC now owns 369,187 shares of the company’s stock worth $1,137,000 after buying an additional 155,007 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Absci during the third quarter worth $724,000. Institutional investors own 52.05% of the company’s stock.

About Absci

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.