Absci Co. (NASDAQ:ABSI) Shares Acquired by Royce & Associates LP

Royce & Associates LP increased its stake in shares of Absci Co. (NASDAQ:ABSI - Free Report) by 472.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 882,096 shares of the company's stock after acquiring an additional 727,905 shares during the quarter. Royce & Associates LP owned about 0.77% of Absci worth $2,311,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ARK Investment Management LLC boosted its position in shares of Absci by 30.4% in the 4th quarter. ARK Investment Management LLC now owns 8,265,936 shares of the company's stock valued at $21,657,000 after purchasing an additional 1,928,314 shares during the period. Fred Alger Management LLC raised its position 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 purchasing an additional 309,843 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Absci by 28.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,829 shares of the company's stock worth $2,997,000 after purchasing an additional 253,985 shares during the period. Raymond James Financial Inc. acquired a new stake in Absci during the 4th quarter worth $508,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Absci in the third quarter valued at $724,000. 52.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on ABSI. Guggenheim reissued a "buy" rating and set a $10.00 price target on shares of Absci in a report on Thursday. Needham & Company LLC reiterated a "buy" rating and issued a $9.00 target price on shares of Absci in a research note on Wednesday, March 19th. KeyCorp cut their price target on Absci from $6.00 to $5.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $7.00 price target on shares of Absci in a report on Wednesday, March 19th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Absci has an average rating of "Buy" and a consensus target price of $8.57.

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Absci Stock Performance

Shares of ABSI stock traded up $0.09 during trading hours on Monday, reaching $3.10. 3,002,518 shares of the company's stock were exchanged, compared to its average volume of 2,396,159. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63. The company's 50 day moving average is $3.87 and its two-hundred day moving average is $3.65. The company has a market cap of $394.74 million, a P/E ratio of -3.33 and a beta of 2.09. Absci Co. has a 1 year low of $2.45 and a 1 year high of $6.72.

Absci (NASDAQ:ABSI - Get Free Report) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. The business had revenue of $0.67 million during the quarter, compared to analysts' expectations of $1.77 million. Equities research analysts anticipate that Absci Co. will post -0.89 EPS for the current fiscal 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.