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

Absci (NASDAQ:ABSI - Get Free Report) had its target price hoisted by investment analysts at KeyCorp from $5.00 to $9.00 in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The firm currently has an "overweight" rating on the stock. KeyCorp's price target would indicate a potential upside of 183.91% from the stock's previous close.

A number of other brokerages also recently issued reports on ABSI. 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. HC Wainwright reiterated a "buy" rating and set a $7.00 price target on shares of Absci in a research report on Wednesday, March 19th. Finally, Guggenheim reissued a "buy" rating and issued a $10.00 price target on shares of Absci in a research note on Thursday, March 20th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $8.40.

Absci Price Performance

ABSI traded up $0.08 during trading on Wednesday, reaching $3.17. The company's stock had a trading volume of 1,639,988 shares, compared to its average volume of 2,550,308. The firm has a fifty day simple moving average of $3.40 and a two-hundred day simple moving average of $3.48. The company has a market cap of $403.71 million, a price-to-earnings ratio of -3.41 and a beta of 2.22. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.01. Absci has a 1 year low of $2.01 and a 1 year high of $6.33.

Absci (NASDAQ:ABSI - Get Free Report) last posted its quarterly earnings results 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). Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. The firm had revenue of $0.67 million during the quarter, compared to analysts' expectations of $1.77 million. As a group, analysts anticipate that Absci will post -0.89 EPS for the current year.

Hedge Funds Weigh In On Absci

Several institutional investors have recently modified their holdings of the business. PCA Investment Advisory Services Inc. acquired a new stake in shares of Absci in the 4th quarter valued at $26,000. Alpha Cubed Investments LLC purchased a new position in shares of Absci during the fourth quarter worth about $26,000. Ballentine Partners LLC acquired a new stake in shares of Absci during the fourth quarter worth about $27,000. BNP Paribas Financial Markets purchased a new position in Absci during the 4th quarter worth approximately $28,000. Finally, Verdence Capital Advisors LLC purchased a new stake in Absci in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds 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.