Absci Co. (NASDAQ:ABSI) Shares Bought by Royce & Associates LP

Royce & Associates LP lifted its stake in shares of Absci Co. (NASDAQ:ABSI) by 472.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 882,096 shares of the company’s stock after acquiring an additional 727,905 shares during the period. Royce & Associates LP owned 0.77% of Absci worth $2,311,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Absci by 28.5% in the 4th 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 in the last quarter. JPMorgan Chase & Co. raised its position 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 buying an additional 6,409 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Absci during the fourth quarter valued at approximately $111,000. ARK Investment Management LLC boosted 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 acquiring an additional 1,928,314 shares during the last quarter. Finally, Barclays PLC grew its stake in Absci by 379.6% in the 3rd quarter. Barclays PLC now owns 131,504 shares of the company’s stock worth $503,000 after acquiring an additional 104,083 shares during the period. Institutional investors and hedge funds own 52.05% of the company’s stock.

Absci Price Performance

ABSI stock opened at $3.04 on Friday. The company has a market cap of $349.16 million, a PE ratio of -3.27 and a beta of 2.09. 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 stock has a 50-day moving average price of $3.86 and a two-hundred day moving average price of $3.67. Absci Co. has a 12-month low of $2.45 and a 12-month high of $6.72.

Absci (NASDAQ:ABSI) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The firm had revenue of $0.67 million during the quarter, compared to analyst estimates of $1.77 million. Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. As a group, research analysts predict that Absci Co. will post -0.89 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ABSI shares. Needham & Company LLC reissued a “buy” rating and set a $9.00 price target on shares of Absci in a research note on Wednesday. Guggenheim reiterated a “buy” rating and set a $10.00 target price on shares of Absci in a research report on Thursday. KeyCorp decreased their price target 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, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Absci in a research note on Wednesday. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $8.57.

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.