Absci (NASDAQ:ABSI) Given New $20.00 Price Target at KeyCorp

Absci (NASDAQ:ABSI) had its price objective upped by KeyCorp from $16.00 to $20.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target points to a potential upside of 125.23% from the stock’s previous close.

Several other research analysts have also weighed in on ABSI. BTIG Research set a $15.00 price objective on shares of Absci and gave the company a “buy” rating in a research note on Tuesday, September 8th. Guggenheim reissued a “buy” rating on shares of Absci in a research note on Monday, September 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Absci in a report on Thursday. Lifesci Capital initiated coverage on shares of Absci in a research note on Wednesday, September 9th. They issued an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. upped their price target on shares of Absci from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Monday. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.56.

Absci Trading Up 1.6%

NASDAQ:ABSI opened at $8.88 on Friday. Absci has a twelve month low of $2.24 and a twelve month high of $12.06. The company has a 50-day moving average of $9.35 and a 200-day moving average of $7.57. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -11.10 and a beta of 2.27.

Absci (NASDAQ:ABSI) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Absci had a negative net margin of 7,756.38% and a negative return on equity of 61.71%. The firm had revenue of $0.32 million for the quarter, compared to analyst estimates of $0.92 million. On average, research analysts forecast that Absci will post -0.74 earnings per share for the current year.

Institutional Trading of Absci

Hedge funds and other institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd acquired a new position in Absci in the second quarter worth about $445,000. Engineers Gate Manager LP bought a new position in Absci in the second quarter valued at about $305,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Absci during the 2nd quarter worth approximately $53,000. Corient Private Wealth LP bought a new stake in shares of Absci during the 2nd quarter valued at $270,000. Finally, AXQ Capital LP increased its holdings in Absci by 10.5% in the second quarter. AXQ Capital LP now owns 36,000 shares of the company’s stock valued at $417,000 after purchasing an additional 3,435 shares during the last quarter. 52.05% of the stock is currently owned by institutional investors and hedge funds.

About Absci

Absci Corporation is a biotechnology company that uses generative artificial intelligence and integrated laboratory technologies to discover and develop new medicines. The company focuses primarily on biologics, including antibody-based therapies, and aims to accelerate the process of moving from drug concept to candidate development.

Absci’s platform combines artificial intelligence models with biological data generation and laboratory experimentation. Its capabilities include protein and antibody design, target and candidate evaluation, and the development of cell lines and manufacturing processes intended to support biologic drug production.