Absci Co. (NASDAQ:ABSI) Short Interest Update

Absci Co. (NASDAQ:ABSI) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 15,490,000 shares, a growth of 10.5% from the December 31st total of 14,020,000 shares. Currently, 16.8% of the company’s stock are short sold. Based on an average daily volume of 2,720,000 shares, the days-to-cover ratio is currently 5.7 days.

Absci Trading Down 2.9 %

NASDAQ:ABSI opened at $3.71 on Friday. Absci has a one year low of $2.45 and a one year high of $6.72. The business has a fifty day moving average price of $3.21 and a 200-day moving average price of $3.69. The firm has a market capitalization of $426.12 million, a price-to-earnings ratio of -3.99 and a beta of 2.04. 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 posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate 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 last year, the business earned ($0.24) EPS. Sell-side analysts forecast that Absci will post -0.89 EPS for the current year.

Wall Street Analysts Forecast Growth

ABSI has been the subject of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Absci in a research report on Friday, January 17th. Guggenheim reissued a “buy” rating and set a $10.00 price objective on shares of Absci in a report on Tuesday, December 3rd. KeyCorp dropped their target price on shares of Absci from $6.00 to $5.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Needham & Company LLC began coverage on shares of Absci in a research note on Wednesday, January 22nd. They set a “buy” rating and a $9.00 target price for the company. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $8.57.

Hedge Funds Weigh In On Absci

Hedge funds have recently modified their holdings of the company. Rhumbline Advisers lifted its stake in shares of Absci by 4.2% during the 4th quarter. Rhumbline Advisers now owns 114,152 shares of the company’s stock valued at $299,000 after buying an additional 4,593 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Absci by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 49,379 shares of the company’s stock worth $189,000 after purchasing an additional 6,409 shares in the last quarter. Victory Capital Management Inc. raised its stake in Absci by 5.9% during the 3rd quarter. Victory Capital Management Inc. now owns 150,562 shares of the company’s stock valued at $575,000 after purchasing an additional 8,388 shares during the period. PCA Investment Advisory Services Inc. purchased a new position in Absci in the 4th quarter worth approximately $26,000. Finally, Alpha Cubed Investments LLC bought a new position in Absci in the 4th quarter worth approximately $26,000. 52.05% of the stock is currently owned by institutional investors.

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.