Absci Target of Unusually High Options Trading (NASDAQ:ABSI)

Absci Co. (NASDAQ:ABSI - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock investors bought 4,017 call options on the stock. This is an increase of 270% compared to the typical volume of 1,085 call options.

Institutional Trading of Absci

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Absci by 88.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 125,089 shares of the company's stock worth $385,000 after buying an additional 58,556 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Absci during the 2nd quarter worth about $100,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Absci during the 3rd quarter worth about $53,000. Cherry Creek Investment Advisors Inc. acquired a new position in shares of Absci during the 3rd quarter worth about $149,000. Finally, Farther Finance Advisors LLC grew its position in shares of Absci by 119.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company's stock worth $72,000 after buying an additional 10,275 shares during the period. 52.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABSI has been the subject of several research reports. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 target price on shares of Absci in a research report on Friday, January 17th. Guggenheim reissued a "buy" rating and set a $10.00 price objective on shares of Absci in a report on Tuesday, December 3rd. KeyCorp cut their price objective on Absci from $6.00 to $5.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Finally, Needham & Company LLC started coverage on Absci in a report on Wednesday, January 22nd. They set a "buy" rating and a $9.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $8.57.

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Absci Trading Up 14.7 %

ABSI stock traded up $0.74 during midday trading on Friday, reaching $5.74. The stock had a trading volume of 8,561,466 shares, compared to its average volume of 7,056,199. The business has a fifty day simple moving average of $3.50 and a two-hundred day simple moving average of $3.71. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.01. The firm has a market cap of $658.72 million, a price-to-earnings ratio of -6.24 and a beta of 2.11. Absci has a twelve month low of $2.45 and a twelve month high of $6.72.

Absci (NASDAQ:ABSI - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.05). The firm had revenue of $1.70 million during the quarter, compared to analyst estimates of $1.77 million. Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. During the same quarter in the previous year, the business earned ($0.24) earnings per share. As a group, research analysts expect that Absci 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.