Victory Capital Management Inc. Has $575,000 Stock Position in Absci Co. (NASDAQ:ABSI)

Victory Capital Management Inc. lifted its holdings in shares of Absci Co. (NASDAQ:ABSI) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 150,562 shares of the company’s stock after purchasing an additional 8,388 shares during the period. Victory Capital Management Inc. owned 0.13% of Absci worth $575,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. ARK Investment Management LLC grew its holdings in Absci by 15.1% during the 3rd quarter. ARK Investment Management LLC now owns 6,337,622 shares of the company’s stock worth $24,210,000 after acquiring an additional 833,734 shares during the period. Vanguard Group Inc. increased its holdings in Absci by 33.7% in the first quarter. Vanguard Group Inc. now owns 3,445,272 shares of the company’s stock worth $19,569,000 after purchasing an additional 869,131 shares in the last quarter. Marshall Wace LLP increased its holdings in Absci by 23.3% in the second quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock worth $5,648,000 after purchasing an additional 347,079 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Absci by 21.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 889,844 shares of the company’s stock valued at $3,399,000 after buying an additional 158,086 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Absci by 73.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 731,758 shares of the company’s stock worth $2,254,000 after buying an additional 310,946 shares in the last quarter. Institutional investors own 52.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ABSI shares. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Absci in a report on Wednesday, November 13th. Guggenheim began coverage on Absci in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $10.00 target price for the company. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $8.67.

Absci Trading Up 6.9 %

Shares of ABSI stock opened at $2.94 on Friday. The company has a market capitalization of $337.68 million, a PE ratio of -3.16 and a beta of 2.18. Absci Co. has a 52-week low of $1.35 and a 52-week high of $6.72. The business’s fifty day moving average is $3.75 and its 200 day moving average is $3.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63.

Absci (NASDAQ:ABSI) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.24) EPS 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 the consensus estimate 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 in the previous year, the company earned ($0.24) EPS. On average, equities research analysts anticipate that Absci Co. will post -0.9 EPS for the current fiscal year.

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.