Absci Co. (NASDAQ:ABSI) Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC boosted its position in Absci Co. (NASDAQ:ABSI) by 72.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 369,187 shares of the company’s stock after acquiring an additional 155,007 shares during the quarter. Squarepoint Ops LLC owned 0.33% of Absci worth $1,137,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank acquired a new stake in shares of Absci in the first quarter worth $31,000. SG Americas Securities LLC acquired a new stake in Absci in the 1st quarter valued at $63,000. Avantax Advisory Services Inc. purchased a new position in Absci in the first quarter valued at about $71,000. Cannon Global Investment Management LLC acquired a new position in shares of Absci during the first quarter worth about $104,000. Finally, Salem Investment Counselors Inc. acquired a new position in shares of Absci during the first quarter worth about $122,000. Hedge funds and other institutional investors own 52.05% of the company’s stock.

Analyst Upgrades and Downgrades

ABSI has been the topic of several recent research reports. Guggenheim began coverage on Absci in a research report on Wednesday. They set a “buy” rating and a $10.00 price target on the stock. KeyCorp decreased their target price on shares of Absci from $8.00 to $6.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Morgan Stanley assumed coverage on shares of Absci in a research note on Wednesday, July 3rd. They set an “overweight” rating and a $7.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Absci in a report on Thursday, August 15th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $8.67.

Absci Price Performance

Shares of ABSI opened at $3.88 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.49 and a quick ratio of 6.49. The company has a market cap of $438.77 million, a P/E ratio of -3.34 and a beta of 2.19. Absci Co. has a 12 month low of $1.11 and a 12 month high of $6.72. The stock has a fifty day moving average price of $4.01 and a 200 day moving average price of $4.34.

Absci (NASDAQ:ABSI) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). Absci had a negative net margin of 2,838.89% and a negative return on equity of 44.24%. The business had revenue of $1.27 million for the quarter, compared to the consensus estimate of $2.05 million. During the same period last year, the firm posted ($0.27) EPS. On average, research analysts forecast that Absci Co. will post -0.8 earnings per share 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.