Bank of Montreal Can Invests $527,000 in Absci Co. (NASDAQ:ABSI)

Bank of Montreal Can bought a new stake in Absci Co. (NASDAQ:ABSI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 167,959 shares of the company's stock, valued at approximately $527,000. Bank of Montreal Can owned about 0.15% of Absci at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Absci by 88.0% in 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 last quarter. American Century Companies Inc. increased its position in shares of Absci by 32.3% during the second quarter. American Century Companies Inc. now owns 121,800 shares of the company's stock worth $375,000 after purchasing an additional 29,723 shares in the last quarter. Pier 88 Investment Partners LLC lifted its holdings in shares of Absci by 240.2% during the 2nd quarter. Pier 88 Investment Partners LLC now owns 148,220 shares of the company's stock valued at $457,000 after purchasing an additional 104,650 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Absci by 3,910.6% during the 2nd quarter. Rhumbline Advisers now owns 107,324 shares of the company's stock valued at $331,000 after purchasing an additional 104,648 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. acquired a new stake in shares of Absci in the 2nd quarter worth $388,000. 52.05% of the stock is currently owned by institutional investors.

Absci Stock Performance

NASDAQ:ABSI traded down $0.13 during midday trading on Wednesday, hitting $3.81. The company's stock had a trading volume of 725,053 shares, compared to its average volume of 1,362,381. Absci Co. has a fifty-two week low of $1.11 and a fifty-two week high of $6.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.49 and a quick ratio of 6.49. The firm has a market cap of $430.85 million, a P/E ratio of -3.40 and a beta of 2.19. The firm's 50 day moving average is $4.00 and its 200-day moving average is $4.31.

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

Wall Street Analyst Weigh In

ABSI has been the subject of a number of research analyst reports. KeyCorp decreased their price target on Absci from $8.00 to $6.00 and set an "overweight" rating for the company in a research note on Thursday, July 11th. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 price objective on shares of Absci in a research report on Thursday, August 15th. Guggenheim initiated coverage on shares of Absci in a research note on Wednesday, October 2nd. They issued a "buy" rating and a $10.00 target price for the company. Finally, Morgan Stanley assumed coverage on shares of Absci in a research note on Wednesday, July 3rd. They set an "overweight" rating and a $7.00 price target on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $8.67.

About Absci

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.