Absci Co. (NASDAQ:ABSI) Stake Raised by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in shares of Absci Co. (NASDAQ:ABSI) by 6.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,933,593 shares of the company’s stock after acquiring an additional 123,896 shares during the quarter. Geode Capital Management LLC owned approximately 1.68% of Absci worth $7,388,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in ABSI. Victory Capital Management Inc. boosted its holdings in shares of Absci by 5.9% during the third quarter. Victory Capital Management Inc. now owns 150,562 shares of the company’s stock worth $575,000 after purchasing an additional 8,388 shares during the period. Farther Finance Advisors LLC lifted its position in Absci by 119.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock worth $72,000 after buying an additional 10,275 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Absci by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 697,849 shares of the company’s stock valued at $2,666,000 after buying an additional 11,602 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Absci during the 3rd quarter valued at $53,000. Finally, Intech Investment Management LLC acquired a new position in shares of Absci in the third quarter worth $86,000. Institutional investors and hedge funds own 52.05% of the company’s stock.

Absci Price Performance

NASDAQ ABSI opened at $2.71 on Friday. Absci Co. has a fifty-two week low of $2.45 and a fifty-two week high of $6.72. The stock’s 50-day moving average is $3.30 and its two-hundred day moving average is $3.68. The firm has a market cap of $311.26 million, a P/E ratio of -2.91 and a beta of 2.02. 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 (NASDAQ:ABSI) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.24) earnings per share 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 net margin of 2,321.56% and a negative return on equity of 46.56%. During the same period in the previous year, the business posted ($0.24) earnings per share. On average, analysts anticipate that Absci Co. will post -0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on ABSI shares. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Absci in a research note on Friday, December 13th. Guggenheim reissued a “buy” rating and issued a $10.00 price target on shares of Absci in a research note on Tuesday, December 3rd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $8.67.

About Absci

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.