46,622 Shares in Absci Co. (NASDAQ:ABSI) Acquired by Franklin Resources Inc.

Franklin Resources Inc. bought a new stake in Absci Co. (NASDAQ:ABSI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 46,622 shares of the company’s stock, valued at approximately $191,000.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Absci by 1.2% during the 3rd 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 increased 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 worth $28,904,000 after buying an additional 309,843 shares during the last quarter. ARK Investment Management LLC raised its holdings 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 buying an additional 833,734 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Absci by 6.8% in the third quarter. Geode Capital Management LLC now owns 1,933,593 shares of the company’s stock worth $7,388,000 after buying an additional 123,896 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Absci by 23.3% during the 2nd quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock worth $5,648,000 after acquiring an additional 347,079 shares in the last quarter. 52.05% of the stock is owned by institutional investors.

Absci Trading Up 3.4 %

Absci stock opened at $2.71 on Friday. The business’s 50-day simple moving average is $3.30 and its 200-day simple moving average is $3.68. Absci Co. has a 52 week low of $2.45 and a 52 week high of $6.72. The firm has a market capitalization of $311.26 million, a PE ratio of -2.91 and a beta of 2.02. 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 business had revenue of $1.70 million for the quarter, compared to analyst estimates 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 quarter last year, the firm earned ($0.24) earnings per share. Equities research analysts forecast that Absci Co. will post -0.9 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Guggenheim reissued a “buy” rating and issued a $10.00 price objective on shares of Absci in a research note on Tuesday, December 3rd. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Absci in a report on Friday, December 13th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Absci currently has a consensus rating of “Buy” and an average target price of $8.67.

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.