Absci Co. (NASDAQ:ABSI) Short Interest Update

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

Hedge Funds Weigh In On Absci

Hedge funds have recently modified their holdings of the business. FMR LLC raised its holdings in Absci by 1.2% during the third quarter. FMR LLC now owns 12,727,760 shares of the company’s stock worth $48,620,000 after purchasing an additional 147,156 shares in the last quarter. Fred Alger Management LLC raised its holdings in shares of Absci by 4.3% in the third quarter. Fred Alger Management LLC now owns 7,566,618 shares of the company’s stock worth $28,904,000 after acquiring an additional 309,843 shares during the last quarter. ARK Investment Management LLC boosted its stake in shares of 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 acquiring an additional 833,734 shares during the last quarter. Geode Capital Management LLC raised its stake in Absci by 6.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,933,593 shares of the company’s stock valued at $7,388,000 after purchasing an additional 123,896 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in 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 purchasing an additional 347,079 shares in the last quarter. 52.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on ABSI shares. KeyCorp reduced their price objective on Absci from $6.00 to $5.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Guggenheim restated a “buy” rating and set a $10.00 target price on shares of Absci in a research report on Tuesday, December 3rd. Finally, HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Absci in a research note on Friday. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $8.50.

Absci Price Performance

Absci stock opened at $2.90 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63. The company has a market capitalization of $333.09 million, a price-to-earnings ratio of -3.12 and a beta of 2.04. The company’s 50 day simple moving average is $3.07 and its 200-day simple moving average is $3.68. Absci has a 1 year low of $2.45 and a 1 year high of $6.72.

Absci (NASDAQ:ABSI) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. The business had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $1.77 million. During the same period last year, the firm earned ($0.24) earnings per share. As a group, equities research analysts expect that Absci will post -0.9 earnings per share for the current year.

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.