Barclays PLC Buys 104,083 Shares of Absci Co. (NASDAQ:ABSI)

Barclays PLC increased its position in shares of Absci Co. (NASDAQ:ABSI - Free Report) by 379.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 131,504 shares of the company's stock after acquiring an additional 104,083 shares during the quarter. Barclays PLC owned about 0.11% of Absci worth $503,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in Absci during the 3rd quarter valued at about $53,000. Farther Finance Advisors LLC lifted its holdings in Absci by 119.5% in the third quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company's stock valued at $72,000 after buying an additional 10,275 shares during the period. Intech Investment Management LLC bought a new position in Absci in the third quarter valued at approximately $86,000. The Manufacturers Life Insurance Company acquired a new stake in Absci during the 2nd quarter worth $100,000. Finally, Cherry Creek Investment Advisors Inc. bought a new stake in shares of Absci during the 3rd quarter valued at $149,000. Institutional investors own 52.05% of the company's stock.

Absci Stock Up 3.6 %

Shares of ABSI stock traded up $0.10 during trading hours on Friday, hitting $2.90. 2,516,171 shares of the company were exchanged, compared to its average volume of 4,860,458. The company has a market capitalization of $333.09 million, a PE ratio of -3.12 and a beta of 2.04. The business has a 50 day moving average of $3.07 and a two-hundred day moving average of $3.68. Absci Co. has a 52 week low of $2.45 and a 52 week high of $6.72. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.01.

Absci (NASDAQ:ABSI - Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $1.70 million during the quarter, compared to analyst estimates 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 business earned ($0.24) earnings per share. Analysts anticipate that Absci Co. will post -0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

ABSI has been the subject of a number of recent analyst reports. HC Wainwright reiterated a "buy" rating and issued a $7.00 price objective on shares of Absci in a report on Friday. Guggenheim reaffirmed a "buy" rating and issued a $10.00 price target on shares of Absci in a research note on Tuesday, December 3rd. 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 research note on Wednesday, January 8th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $8.50.

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.