Squarepoint Ops LLC Boosts Stake in Absci Co. (NASDAQ:ABSI)

Squarepoint Ops LLC grew its position in shares of Absci Co. (NASDAQ:ABSI - Free Report) by 72.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 369,187 shares of the company's stock after purchasing an additional 155,007 shares during the quarter. Squarepoint Ops LLC owned approximately 0.33% of Absci worth $1,137,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Marshall Wace LLP grew its position in Absci by 23.3% during the 2nd quarter. Marshall Wace LLP now owns 1,833,902 shares of the company's stock worth $5,648,000 after acquiring an additional 347,079 shares during the last quarter. Bank of Montreal Can bought a new position in Absci during the 2nd quarter worth approximately $527,000. Dimensional Fund Advisors LP grew its position in 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 acquiring an additional 58,556 shares during the last quarter. American Century Companies Inc. grew its position in Absci by 32.3% during the 2nd quarter. American Century Companies Inc. now owns 121,800 shares of the company's stock worth $375,000 after acquiring an additional 29,723 shares during the last quarter. Finally, Pier 88 Investment Partners LLC grew its position in Absci by 240.2% during the 2nd quarter. Pier 88 Investment Partners LLC now owns 148,220 shares of the company's stock worth $457,000 after acquiring an additional 104,650 shares during the last quarter. 52.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ABSI shares. KeyCorp reduced their price target on Absci from $8.00 to $6.00 and set an "overweight" rating on the stock in a research report on Thursday, July 11th. HC Wainwright restated a "buy" rating and set a $7.00 price target on shares of Absci in a research report on Thursday, August 15th. Morgan Stanley began coverage on Absci in a research report on Wednesday, July 3rd. They issued an "overweight" rating and a $7.00 price objective on the stock. Finally, Guggenheim began coverage on Absci in a research report on Wednesday. They issued a "buy" rating and a $10.00 price objective on the stock. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $8.67.

Absci Stock Up 1.8 %

Shares of ABSI traded up $0.07 on Friday, reaching $3.88. The stock had a trading volume of 837,322 shares, compared to its average volume of 1,374,653. The firm has a market capitalization of $438.77 million, a price-to-earnings ratio of -3.34 and a beta of 2.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.49 and a current ratio of 6.49. The company has a 50-day simple moving average of $4.01 and a 200-day simple moving average of $4.33. Absci Co. has a 12-month low of $1.11 and a 12-month high of $6.72.

Absci (NASDAQ:ABSI - Get Free Report) last released its earnings results on Wednesday, August 14th. The company reported ($0.22) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.03). The firm had revenue of $1.27 million during the quarter, compared to analysts' expectations of $2.05 million. Absci had a negative net margin of 2,838.89% and a negative return on equity of 44.24%. During the same quarter in the previous year, the business earned ($0.27) EPS. Sell-side analysts predict that Absci Co. will post -0.8 EPS for the current 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.