Absci Co. (NASDAQ:ABSI) Shares Acquired by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. lifted its stake in shares of Absci Co. (NASDAQ:ABSI) by 20.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 551,188 shares of the company’s stock after acquiring an additional 93,785 shares during the period. Platinum Investment Management Ltd.’s holdings in Absci were worth $1,444,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ABSI. PCA Investment Advisory Services Inc. acquired a new stake in shares of Absci during the fourth quarter valued at $26,000. Alpha Cubed Investments LLC acquired a new stake in Absci in the 4th quarter worth about $26,000. Ballentine Partners LLC acquired a new stake in Absci in the 4th quarter worth about $27,000. Verdence Capital Advisors LLC acquired a new stake in Absci in the 4th quarter worth about $37,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in Absci in the 4th quarter worth about $64,000. Institutional investors and hedge funds own 52.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ABSI shares. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Absci in a research note on Friday, January 17th. Guggenheim restated a “buy” rating and issued a $10.00 price objective on shares of Absci in a report on Tuesday, December 3rd. KeyCorp cut their price objective on Absci from $6.00 to $5.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Needham & Company LLC began coverage on Absci in a report on Wednesday, January 22nd. They issued a “buy” rating and a $9.00 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $8.57.

Absci Stock Performance

Shares of NASDAQ:ABSI opened at $3.08 on Wednesday. The company has a market cap of $353.76 million, a P/E ratio of -3.31 and a beta of 2.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63. Absci Co. has a one year low of $2.45 and a one year high of $6.72. The business’s 50-day simple moving average is $3.87 and its 200 day simple moving average is $3.68.

Absci (NASDAQ:ABSI) last announced its earnings results on Tuesday, March 18th. The company reported ($0.25) EPS 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 company had revenue of $0.67 million for the quarter, compared to analysts’ expectations of $1.77 million. On average, sell-side analysts forecast that Absci Co. will post -0.89 earnings per share for the current fiscal year.

Absci 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.