Charles Schwab Investment Management Inc. Grows Position in Absci Co. (NASDAQ:ABSI)

Charles Schwab Investment Management Inc. boosted its stake in shares of Absci Co. (NASDAQ:ABSI) by 1.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 697,849 shares of the company’s stock after acquiring an additional 11,602 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.61% of Absci worth $2,666,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. ARK Investment Management LLC lifted its holdings in shares of Absci by 15.1% in the 3rd 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 during the period. Marshall Wace LLP lifted its holdings in shares of Absci by 23.3% in the 2nd quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock valued at $5,648,000 after buying an additional 347,079 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Absci by 21.6% in the 3rd 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. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Absci by 73.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 731,758 shares of the company’s stock valued at $2,254,000 after buying an additional 310,946 shares during the period. Finally, Institute for Wealth Management LLC. raised its holdings in Absci by 110.3% during the second quarter. Institute for Wealth Management LLC. now owns 510,902 shares of the company’s stock worth $1,574,000 after purchasing an additional 268,019 shares during the last quarter. 52.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABSI has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Absci in a research report on Friday. Guggenheim reissued a “buy” rating and set a $10.00 price target on shares of Absci in a research report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Absci currently has an average rating of “Buy” and a consensus target price of $8.67.

Absci Price Performance

Shares of NASDAQ:ABSI opened at $3.69 on Monday. The company has a market cap of $423.82 million, a P/E ratio of -3.97 and a beta of 2.02. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.01. Absci Co. has a 52 week low of $2.45 and a 52 week high of $6.72. The business has a fifty day simple moving average of $3.60 and a 200-day simple moving average of $3.81.

Absci (NASDAQ:ABSI) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.70 million during the quarter, compared to analysts’ expectations of $1.77 million. During the same period in the prior year, the firm earned ($0.24) EPS. Equities research analysts forecast that Absci Co. will post -0.9 EPS for the current year.

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.