Absci (NASDAQ:ABSI) Given New $5.00 Price Target at KeyCorp

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

A number of other equities analysts have also recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Absci in a research report on Wednesday. Guggenheim reiterated a “buy” rating and issued a $10.00 price objective on shares of Absci in a research note on Tuesday, December 3rd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $8.50.

Absci Stock Down 11.2 %

NASDAQ ABSI opened at $2.86 on Wednesday. The business has a fifty day moving average price of $3.19 and a two-hundred day moving average price of $3.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63. Absci has a fifty-two week low of $2.45 and a fifty-two week high of $6.72. The stock has a market capitalization of $328.49 million, a PE ratio of -3.08 and a beta of 2.04.

Absci (NASDAQ:ABSI) last announced its quarterly 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 analyst estimates of $1.77 million. Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. During the same quarter last year, the company posted ($0.24) earnings per share. Equities analysts expect that Absci will post -0.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ABSI. FMR LLC increased its position in Absci by 1.2% during 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 during the period. Fred Alger Management LLC lifted its holdings in Absci by 4.3% during the third quarter. Fred Alger Management LLC now owns 7,566,618 shares of the company’s stock valued at $28,904,000 after purchasing an additional 309,843 shares in the last quarter. ARK Investment Management LLC lifted its stake in shares of Absci by 15.1% in the third quarter. ARK Investment Management LLC now owns 6,337,622 shares of the company’s stock worth $24,210,000 after buying an additional 833,734 shares in the last quarter. Geode Capital Management LLC raised its stake 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 purchasing an additional 123,896 shares during the period. Finally, Marshall Wace LLP increased its position in shares of Absci by 23.3% during 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 last quarter. Hedge funds and other 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.