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

Absci (NASDAQ:ABSI) had its price objective lowered by KeyCorp from $6.00 to $5.00 in a report released on Wednesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on ABSI. Guggenheim restated a “buy” rating and issued a $10.00 target price on shares of Absci in a report on Tuesday, December 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Absci in a research report on Wednesday. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $8.50.

Absci Stock Performance

NASDAQ ABSI opened at $2.86 on Wednesday. The business’s 50-day moving average price is $3.19 and its 200 day moving average price is $3.68. The company has a market capitalization of $328.49 million, a PE ratio of -3.08 and a beta of 2.04. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.01. Absci has a twelve month low of $2.45 and a twelve month high of $6.72.

Absci (NASDAQ:ABSI) last announced its 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). The company had revenue of $1.70 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted ($0.24) earnings per share. On average, research analysts predict that Absci will post -0.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Marshall Wace LLP lifted its holdings in Absci by 23.3% during the second quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock worth $5,648,000 after acquiring an additional 347,079 shares in the last quarter. Barclays PLC raised its stake 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 acquired a new stake in shares of Absci in the second quarter valued at about $527,000. Squarepoint Ops LLC increased its position in shares of Absci by 72.4% in the second quarter. Squarepoint Ops LLC now owns 369,187 shares of the company’s stock valued at $1,137,000 after acquiring an additional 155,007 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Absci in the third quarter valued at about $724,000. 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.