Absci Co. (NASDAQ:ABSI) Shares Purchased by ARK Investment Management LLC

ARK Investment Management LLC lifted its holdings in Absci Co. (NASDAQ:ABSI) by 30.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,265,936 shares of the company’s stock after acquiring an additional 1,928,314 shares during the quarter. ARK Investment Management LLC owned 7.20% of Absci worth $21,657,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PCA Investment Advisory Services Inc. acquired a new stake in shares of Absci in the fourth quarter worth $26,000. Alpha Cubed Investments LLC acquired a new stake in shares of Absci in the fourth quarter worth $26,000. Ballentine Partners LLC acquired a new stake in shares of Absci in the fourth quarter worth $27,000. Farther Finance Advisors LLC grew 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 valued at $72,000 after buying an additional 10,275 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in Absci during the third quarter valued at $86,000. Institutional investors and hedge funds own 52.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Guggenheim restated a “buy” rating and set a $10.00 price target on shares of Absci in a research report on Tuesday, December 3rd. KeyCorp dropped their price target on shares of Absci from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Absci in a research report on Friday, January 17th. Finally, Needham & Company LLC assumed coverage on shares of Absci in a research report on Wednesday, January 22nd. They set a “buy” rating and a $9.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $8.57.

Absci Price Performance

Shares of Absci stock opened at $4.02 on Wednesday. The stock has a market capitalization of $461.74 million, a P/E ratio of -4.32 and a beta of 2.11. The business has a 50 day simple moving average of $3.75 and a two-hundred day simple moving average of $3.78. Absci Co. has a 12 month low of $2.45 and a 12 month high of $6.72. 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 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.