KeyCorp Increases Absci (NASDAQ:ABSI) Price Target to $9.00

Absci (NASDAQ:ABSI) had its price target lifted by equities research analysts at KeyCorp from $5.00 to $9.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target indicates a potential upside of 188.46% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Absci in a research note on Wednesday, March 19th. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price target on shares of Absci in a research note on Wednesday, April 9th. Finally, Guggenheim reaffirmed a “buy” rating and set a $10.00 price objective on shares of Absci in a research report on Thursday, March 20th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $8.40.

Absci Trading Up 1.0 %

NASDAQ:ABSI opened at $3.12 on Wednesday. The stock’s 50-day moving average is $3.49 and its two-hundred day moving average is $3.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63. The stock has a market cap of $397.34 million, a PE ratio of -3.35 and a beta of 2.22. Absci has a fifty-two week low of $2.01 and a fifty-two week high of $6.33.

Absci (NASDAQ:ABSI) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The company had revenue of $0.67 million during the quarter, compared to analyst estimates of $1.77 million. Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. As a group, equities research analysts forecast that Absci will post -0.89 earnings per share for the current fiscal year.

Institutional Trading of Absci

Several large investors have recently made changes to their positions in ABSI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Absci by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,800 shares of the company’s stock valued at $120,000 after acquiring an additional 1,976 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Absci by 14.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,333 shares of the company’s stock valued at $77,000 after purchasing an additional 3,747 shares during the period. Wellington Management Group LLP lifted its stake in shares of Absci by 1.1% in the fourth quarter. Wellington Management Group LLP now owns 352,805 shares of the company’s stock worth $924,000 after buying an additional 3,951 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Absci by 4.2% during the 4th quarter. Rhumbline Advisers now owns 114,152 shares of the company’s stock worth $299,000 after buying an additional 4,593 shares during the period. Finally, Invesco Ltd. grew its stake in Absci by 15.1% in the 4th quarter. Invesco Ltd. now owns 43,535 shares of the company’s stock valued at $114,000 after buying an additional 5,719 shares during the last quarter. 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.