Absci Co. (NASDAQ:ABSI) Short Interest Up 11.4% in December

Absci Co. (NASDAQ:ABSI - Get Free Report) was the target of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 14,020,000 shares, an increase of 11.4% from the November 30th total of 12,580,000 shares. Based on an average daily trading volume, of 1,490,000 shares, the days-to-cover ratio is currently 9.4 days. Currently, 15.2% of the company's stock are short sold.

Institutional Trading of Absci

Institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace LLP grew its holdings in shares of Absci by 23.3% in the second quarter. Marshall Wace LLP now owns 1,833,902 shares of the company's stock valued at $5,648,000 after acquiring an additional 347,079 shares in the last quarter. Bank of Montreal Can bought a new position in Absci in the 2nd quarter valued at $527,000. Squarepoint Ops LLC grew its stake in Absci by 72.4% in the 2nd quarter. Squarepoint Ops LLC now owns 369,187 shares of the company's stock valued at $1,137,000 after purchasing an additional 155,007 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Absci during the 3rd quarter valued at $724,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Absci by 521.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 285,764 shares of the company's stock worth $880,000 after purchasing an additional 239,747 shares during the period. Hedge funds and other institutional investors own 52.05% of the company's stock.

Absci Stock Down 4.3 %

ABSI traded down $0.12 during midday trading on Monday, reaching $2.65. 2,260,130 shares of the company were exchanged, compared to its average volume of 1,437,840. The company has a market cap of $304.37 million, a price-to-earnings ratio of -2.85 and a beta of 2.02. Absci has a one year low of $2.45 and a one year high of $6.72. The company's fifty day moving average price is $3.42 and its 200 day moving average price is $3.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63.

Absci (NASDAQ:ABSI - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.77 million. During the same quarter last year, the company posted ($0.24) EPS. As a group, analysts expect that Absci will post -0.9 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on ABSI. HC Wainwright reiterated a "buy" rating and issued a $7.00 price target on shares of Absci in a report on Friday, December 13th. Guggenheim reiterated a "buy" rating and issued a $10.00 target price on shares of Absci in a report on Tuesday, December 3rd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Absci currently has a consensus rating of "Buy" and a consensus target price of $8.67.

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.