Absci Co. (NASDAQ:ABSI) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC lifted its stake in Absci Co. (NASDAQ:ABSI) by 56.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,265 shares of the company’s stock after purchasing an additional 12,765 shares during the quarter. Intech Investment Management LLC’s holdings in Absci were worth $92,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Absci by 28.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,829 shares of the company’s stock worth $2,997,000 after acquiring an additional 253,985 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Absci by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 49,379 shares of the company’s stock valued at $189,000 after purchasing an additional 6,409 shares during the period. ARK Investment Management LLC increased its position in Absci by 30.4% during the fourth quarter. ARK Investment Management LLC now owns 8,265,936 shares of the company’s stock worth $21,657,000 after purchasing an additional 1,928,314 shares during the last quarter. SG Americas Securities LLC purchased a new position in Absci during the fourth quarter worth about $111,000. Finally, Nikko Asset Management Americas Inc. boosted its holdings in Absci by 28.5% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 1,143,829 shares of the company’s stock valued at $2,997,000 after purchasing an additional 253,985 shares during the last quarter. Hedge funds and other institutional investors own 52.05% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on ABSI shares. Guggenheim reaffirmed a “buy” rating and set a $10.00 price target on shares of Absci in a research report on Thursday, March 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price target on shares of Absci in a research note on Wednesday, March 19th. KeyCorp lowered their price target on Absci from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Absci in a report on Wednesday, March 19th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Absci presently has a consensus rating of “Buy” and an average target price of $7.60.

Absci Price Performance

ABSI stock opened at $2.81 on Friday. The company has a market capitalization of $357.81 million, a PE ratio of -3.02 and a beta of 2.09. Absci Co. has a 12-month low of $2.45 and a 12-month high of $6.72. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.01. The business’s fifty day moving average price is $3.88 and its 200 day moving average price is $3.63.

Absci (NASDAQ:ABSI) last issued its quarterly 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 business had revenue of $0.67 million during the quarter, compared to analysts’ expectations of $1.77 million. On average, sell-side analysts anticipate that Absci Co. will post -0.89 EPS for the current 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.