Absci (NASDAQ:ABSI) Trading Down 4.8% – Time to Sell?

Absci Co. (NASDAQ:ABSI) fell 4.8% during mid-day trading on Monday . The stock traded as low as $4.55 and last traded at $4.45. 472,021 shares were traded during mid-day trading, a decline of 93% from the average session volume of 7,060,481 shares. The stock had previously closed at $4.67.

Analyst Ratings Changes

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

Absci Stock Up 13.4 %

The company has a market cap of $563.96 million, a P/E ratio of -5.28 and a beta of 2.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63. The company has a 50 day moving average of $3.43 and a 200-day moving average of $3.69.

Absci (NASDAQ:ABSI) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The business had revenue of $1.70 million for 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 period in the previous year, the firm posted ($0.24) EPS. On average, equities analysts predict that Absci Co. will post -0.89 earnings per share for the current year.

Hedge Funds Weigh In On Absci

Institutional investors have recently modified their holdings of the company. FMR LLC increased its holdings in shares of Absci by 1.2% in the third quarter. FMR LLC now owns 12,727,760 shares of the company’s stock worth $48,620,000 after buying an additional 147,156 shares during the period. ARK Investment Management LLC increased its stake in Absci by 30.4% in the 4th 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 period. Fred Alger Management LLC lifted its position in Absci by 4.3% in the third quarter. Fred Alger Management LLC now owns 7,566,618 shares of the company’s stock valued at $28,904,000 after purchasing an additional 309,843 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Absci by 6.8% during the third quarter. Geode Capital Management LLC now owns 1,933,593 shares of the company’s stock valued at $7,388,000 after purchasing an additional 123,896 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Absci by 28.5% during the fourth quarter. Sumitomo Mitsui Trust Group 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 period. 52.05% of the stock is currently owned by institutional investors.

Absci Company 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.