Absci (NASDAQ:ABSI) Stock Price Expected to Rise, KeyCorp Analyst Says

Absci (NASDAQ:ABSI) had its price objective increased by KeyCorp from $5.00 to $9.00 in a report released on Wednesday morning, Marketbeat.com reports. They currently have an overweight rating on the stock.

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

Absci Stock Performance

Shares of Absci stock opened at $3.05 on Wednesday. The stock has a market capitalization of $388.43 million, a price-to-earnings ratio of -3.28 and a beta of 2.22. 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 business has a 50-day moving average of $3.46 and a 200 day moving average of $3.49. Absci has a 12 month low of $2.01 and a 12 month high of $6.33.

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

Institutional Trading of Absci

A number of institutional investors have recently bought and sold shares of the business. PCA Investment Advisory Services Inc. purchased a new position in shares of Absci in the 4th quarter valued at about $26,000. Alpha Cubed Investments LLC acquired a new position in Absci in the fourth quarter valued at approximately $26,000. Ballentine Partners LLC purchased a new position in Absci in the fourth quarter valued at approximately $27,000. BNP Paribas Financial Markets acquired a new stake in Absci during the fourth quarter worth approximately $28,000. Finally, Verdence Capital Advisors LLC purchased a new stake in shares of Absci during the 4th quarter worth approximately $37,000. 52.05% of the stock is owned by hedge funds and other institutional investors.

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.