Barclays PLC Increases Holdings in Absci Co. (NASDAQ:ABSI)

Barclays PLC lifted its position in Absci Co. (NASDAQ:ABSI) by 379.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 131,504 shares of the company’s stock after purchasing an additional 104,083 shares during the quarter. Barclays PLC owned about 0.11% of Absci worth $503,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in Absci by 5.9% in 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 grew its stake in shares of Absci by 119.5% during the third quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock worth $72,000 after acquiring an additional 10,275 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Absci by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 697,849 shares of the company’s stock worth $2,666,000 after acquiring 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 about $53,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Absci during the 3rd quarter worth approximately $86,000. 52.05% of the stock is currently owned by institutional investors.

Absci Trading Up 3.4 %

Shares of ABSI opened at $2.71 on Friday. The stock has a fifty day moving average of $3.30 and a two-hundred day moving average of $3.68. Absci Co. has a fifty-two week low of $2.45 and a fifty-two week high of $6.72. The company 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 announced its earnings results on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.05). Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. The company had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $1.77 million. During the same quarter in the previous year, the business posted ($0.24) earnings per share. As a group, analysts forecast that Absci Co. will post -0.9 EPS for the current year.

Analyst Ratings Changes

ABSI has been the subject of a number of recent analyst reports. Guggenheim restated a “buy” rating and issued a $10.00 price objective on shares of Absci in a research report on Tuesday, December 3rd. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Absci in a research note on Friday, December 13th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Absci currently has a consensus rating of “Buy” and an average 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.