PCA Investment Advisory Services Inc. Invests $26,000 in Absci Co. (NASDAQ:ABSI)

PCA Investment Advisory Services Inc. bought a new stake in Absci Co. (NASDAQ:ABSI) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,000 shares of the company’s stock, valued at approximately $26,000.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in Absci by 14.9% in the 3rd 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 period. Victory Capital Management Inc. grew its holdings in Absci by 5.9% in the third quarter. Victory Capital Management Inc. now owns 150,562 shares of the company’s stock valued at $575,000 after purchasing an additional 8,388 shares during the period. Farther Finance Advisors LLC increased its position in Absci by 119.5% during the third 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 during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Absci by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 697,849 shares of the company’s stock worth $2,666,000 after purchasing an additional 11,602 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Absci in the 3rd quarter valued at $53,000. 52.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ABSI. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Absci in a report on Wednesday, January 8th. Guggenheim restated a “buy” rating and set a $10.00 price target on shares of Absci in a research note on Tuesday, December 3rd. Finally, KeyCorp reduced 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. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $8.50.

Absci Trading Down 0.3 %

Shares of ABSI opened at $2.85 on Tuesday. 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 Co. has a 12 month low of $2.45 and a 12 month high of $6.72. The stock has a market cap of $327.34 million, a PE ratio of -3.06 and a beta of 2.04. The stock’s 50-day moving average is $3.17 and its two-hundred day moving average is $3.69.

Absci (NASDAQ:ABSI) last released its quarterly 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 company 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 prior year, the company earned ($0.24) EPS. Equities analysts forecast that Absci Co. will post -0.9 earnings per share for the current fiscal year.

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.