Absci Co. (NASDAQ:ABSI) Short Interest Update

Absci Co. (NASDAQ:ABSI) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 15,490,000 shares, a growth of 10.5% from the December 15th total of 14,020,000 shares. Based on an average daily volume of 2,720,000 shares, the days-to-cover ratio is currently 5.7 days. Currently, 16.8% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of research firms recently commented on ABSI. KeyCorp dropped their target price on shares of Absci from $6.00 to $5.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Absci in a report on Friday. Finally, Guggenheim reiterated a “buy” rating and issued a $10.00 target price on shares of Absci in a report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $8.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its position in Absci by 1.2% during the third quarter. FMR LLC now owns 12,727,760 shares of the company’s stock valued at $48,620,000 after purchasing an additional 147,156 shares in the last quarter. Fred Alger Management LLC grew its position in Absci by 4.3% during 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 in the last quarter. ARK Investment Management LLC grew its position in Absci by 15.1% during the third quarter. ARK Investment Management LLC now owns 6,337,622 shares of the company’s stock valued at $24,210,000 after purchasing an additional 833,734 shares in the last quarter. Geode Capital Management LLC grew its position in 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 in the last quarter. Finally, Marshall Wace LLP grew its position in Absci by 23.3% during the second quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock valued at $5,648,000 after purchasing an additional 347,079 shares in the last quarter. 52.05% of the stock is owned by hedge funds and other institutional investors.

Absci Stock Performance

Absci stock opened at $2.90 on Friday. The firm’s 50 day simple moving average is $3.07 and its 200-day simple moving average is $3.67. The company has a market cap of $333.09 million, a P/E ratio of -3.12 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 has a fifty-two week low of $2.45 and a fifty-two week high of $6.72.

Absci (NASDAQ:ABSI) last released its earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The firm 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 period last year, the business earned ($0.24) earnings per share. As a group, equities research analysts predict that Absci will post -0.9 EPS for the current 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.