SG Americas Securities LLC Acquires Shares of 42,222 Absci Co. (NASDAQ:ABSI)

SG Americas Securities LLC acquired a new stake in Absci Co. (NASDAQ:ABSI) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 42,222 shares of the company’s stock, valued at approximately $111,000.

A number of other hedge funds also recently bought and sold shares of ABSI. ARK Investment Management LLC raised its holdings in 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 acquiring an additional 833,734 shares during the last quarter. Fred Alger Management LLC raised its holdings in Absci by 4.3% in the 3rd quarter. Fred Alger Management LLC now owns 7,566,618 shares of the company’s stock valued at $28,904,000 after acquiring an additional 309,843 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Absci in the 3rd quarter valued at about $724,000. Sumitomo Mitsui Trust Group Inc. grew its stake 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. Finally, FMR LLC grew its stake in shares of Absci by 1.2% in the 3rd quarter. FMR LLC now owns 12,727,760 shares of the company’s stock valued at $48,620,000 after buying an additional 147,156 shares during the period. Institutional investors and hedge funds own 52.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ABSI shares. Needham & Company LLC started coverage on shares of Absci in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $9.00 price target for the company. Guggenheim reaffirmed a “buy” rating and set 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 report on Friday, January 17th. Finally, KeyCorp reduced their price objective 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. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $8.57.

Absci Stock Up 1.6 %

NASDAQ ABSI opened at $4.99 on Thursday. The stock has a market cap of $573.15 million, a PE ratio of -5.37 and a beta of 2.11. Absci Co. has a fifty-two week low of $2.45 and a fifty-two week high of $6.72. The business has a 50 day moving average price of $3.46 and a two-hundred day moving average price of $3.70. 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 (NASDAQ:ABSI) last released 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). The business had revenue of $1.70 million for the quarter, compared to analysts’ expectations 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 quarter last year, the company posted ($0.24) earnings per share. As a group, sell-side analysts predict that Absci Co. will post -0.89 EPS for the current fiscal year.

Absci 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.