Alpha Cubed Investments LLC Invests $26,000 in Absci Co. (NASDAQ:ABSI)

Alpha Cubed Investments LLC bought a new stake in shares of Absci Co. (NASDAQ:ABSI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,000 shares of the company’s stock, valued at approximately $26,000.

A number of other large investors also recently added to or reduced their stakes in the business. PCA Investment Advisory Services Inc. bought a new stake in shares of Absci during the fourth quarter valued at approximately $26,000. Ballentine Partners LLC purchased a new position in Absci during the fourth quarter valued at $27,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Absci in the 3rd quarter valued at $53,000. Farther Finance Advisors LLC lifted its stake in Absci by 119.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock worth $72,000 after purchasing an additional 10,275 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Absci during the 3rd quarter valued at about $86,000. 52.05% of the stock is owned by hedge funds and other institutional investors.

Absci Stock Performance

Absci stock opened at $3.22 on Wednesday. Absci Co. has a 1-year low of $2.45 and a 1-year high of $6.72. The company’s 50-day moving average is $3.03 and its 200 day moving average is $3.68. The firm has a market capitalization of $369.85 million, a P/E ratio of -3.46 and a beta of 2.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63.

Absci (NASDAQ:ABSI) last released its earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). The business had revenue of $1.70 million during the quarter, compared to analysts’ expectations of $1.77 million. Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. During the same quarter in the previous year, the business earned ($0.24) EPS. Research analysts forecast that Absci Co. will post -0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ABSI. Guggenheim reissued a “buy” rating and set a $10.00 price target on shares of Absci in a research note on Tuesday, December 3rd. KeyCorp cut their target price on shares of 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 reaffirmed a “buy” rating and set a $7.00 price target on shares of Absci in a research note on Friday, January 17th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $8.50.

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.