The Manufacturers Life Insurance Company bought a new stake in shares of Absci Co. (NASDAQ:ABSI – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 32,529 shares of the company’s stock, valued at approximately $100,000.
Several other hedge funds have also made changes to their positions in the company. Comerica Bank bought a new stake in Absci during the 1st quarter valued at $31,000. SG Americas Securities LLC bought a new stake in Absci during the first quarter valued at about $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 purchased a new position in Absci in the first quarter valued at about $104,000. Finally, Brookstone Capital Management bought a new position in Absci in the second quarter worth about $110,000. 52.05% of the stock is currently owned by hedge funds and other institutional investors.
Absci Stock Up 4.7 %
Absci stock opened at $4.21 on Monday. Absci Co. has a fifty-two week low of $1.11 and a fifty-two week high of $6.72. The business’s 50-day simple moving average is $4.02 and its two-hundred day simple moving average is $4.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.49 and a current ratio of 6.49. The company has a market cap of $476.08 million, a PE ratio of -3.63 and a beta of 2.19.
Wall Street Analyst Weigh In
ABSI has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Absci in a research report on Thursday, August 15th. Guggenheim initiated coverage on Absci in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $10.00 price target for the company. Morgan Stanley began coverage on Absci in a research note on Wednesday, July 3rd. They set an “overweight” rating and a $7.00 price target on the stock. Finally, KeyCorp cut their price objective on shares of Absci from $8.00 to $6.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Absci currently has an average rating of “Buy” and a consensus target price of $8.67.
Read Our Latest Report on Absci
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.
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