Absci (NASDAQ:ABSI) Price Target Raised to $20.00

Absci (NASDAQ:ABSI) had its target price raised by KeyCorp from $16.00 to $20.00 in a research report report published on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

ABSI has been the topic of several other research reports. Truist Financial increased their target price on Absci from $11.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. HC Wainwright restated a “buy” rating and issued a $16.00 price target on shares of Absci in a research note on Monday, October 12th. JPMorgan Chase & Co. lifted their price target on Absci from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Morgan Stanley reaffirmed a “positive” rating and set a $10.00 price target on shares of Absci in a report on Thursday, June 25th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Absci in a research report on Monday, September 28th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.56.

Absci Price Performance

Shares of Absci stock opened at $8.25 on Friday. Absci has a 52-week low of $2.24 and a 52-week high of $12.06. The company has a market capitalization of $1.42 billion, a P/E ratio of -10.31 and a beta of 2.27. The company has a 50 day moving average of $9.34 and a 200 day moving average of $7.61.

Absci (NASDAQ:ABSI) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.21) 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 during the quarter, compared to analysts’ expectations of $0.92 million. As a group, research analysts anticipate that Absci will post -0.74 earnings per share for the current fiscal year.

Institutional Trading of Absci

Several institutional investors have recently modified their holdings of ABSI. BlackRock Inc. purchased a new position in shares of Absci in the 2nd quarter valued at $141,112,000. Parkman Healthcare Partners LLC acquired a new stake in Absci during the 2nd quarter worth $10,366,000. Bank of America Corp DE purchased a new stake in Absci in the second quarter valued at $6,560,000. Siren L.L.C. purchased a new stake in Absci in the first quarter valued at $5,400,000. Finally, Artia Global Partners LP acquired a new position in Absci in the second quarter valued at $5,383,000. Hedge funds and other institutional investors own 52.05% of the company’s stock.

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.