ARK Investment Management LLC raised its holdings in shares of Absci Co. (NASDAQ:ABSI - Free Report) by 30.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,265,936 shares of the company's stock after acquiring an additional 1,928,314 shares during the period. ARK Investment Management LLC owned approximately 7.20% of Absci worth $21,657,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. PCA Investment Advisory Services Inc. bought a new stake in Absci during the 4th quarter valued at $26,000. Alpha Cubed Investments LLC bought a new stake in Absci during the 4th quarter valued at $26,000. Ballentine Partners LLC bought a new stake in Absci during the 4th quarter valued at $27,000. Farther Finance Advisors LLC raised its stake in Absci by 119.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company's stock valued at $72,000 after acquiring an additional 10,275 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in Absci during the 3rd quarter valued at $86,000. Institutional investors own 52.05% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the company. Needham & Company LLC assumed coverage on Absci in a research note on Wednesday, January 22nd. They set a "buy" rating and a $9.00 target price on the stock. Guggenheim reaffirmed a "buy" rating and set a $10.00 target price on shares of Absci in a research note on Tuesday, December 3rd. KeyCorp dropped their price objective on Absci from $6.00 to $5.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Finally, HC Wainwright reissued a "buy" rating and issued a $7.00 price objective on shares of Absci in a research note on Friday, January 17th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Absci presently has an average rating of "Buy" and an average target price of $8.57.
Read Our Latest Research Report on ABSI
Absci Price Performance
Shares of ABSI traded down $0.19 during midday trading on Friday, reaching $3.85. The stock had a trading volume of 3,497,802 shares, compared to its average volume of 6,719,011. The firm's 50 day moving average price is $3.82 and its 200-day moving average price is $3.78. The company has a market capitalization of $442.20 million, a P/E ratio of -4.14 and a beta of 2.11. 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 Co. has a 52 week low of $2.45 and a 52 week high of $6.72.
About Absci
(
Free Report)
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.
See Also
Before you consider Absci, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Absci wasn't on the list.
While Absci currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
