Raymond James Financial Inc. Acquires Shares of 193,926 Absci Co. (NASDAQ:ABSI)

Raymond James Financial Inc. acquired a new position in Absci Co. (NASDAQ:ABSI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 193,926 shares of the company's stock, valued at approximately $508,000. Raymond James Financial Inc. owned 0.17% of Absci as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. raised its stake in Absci by 28.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,829 shares of the company's stock worth $2,997,000 after acquiring an additional 253,985 shares during the period. JPMorgan Chase & Co. raised its position in shares of Absci by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 49,379 shares of the company's stock valued at $189,000 after purchasing an additional 6,409 shares during the period. ARK Investment Management LLC lifted its stake in shares of Absci by 30.4% during the 4th quarter. ARK Investment Management LLC now owns 8,265,936 shares of the company's stock valued at $21,657,000 after buying an additional 1,928,314 shares in the last quarter. SG Americas Securities LLC bought a new position in Absci in the 4th quarter worth $111,000. Finally, Barclays PLC boosted its holdings in Absci by 379.6% in the 3rd quarter. Barclays PLC now owns 131,504 shares of the company's stock worth $503,000 after buying an additional 104,083 shares during the period. 52.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ABSI. HC Wainwright restated a "buy" rating and issued a $7.00 price objective on shares of Absci in a research report on Wednesday, March 19th. KeyCorp lowered their price target on Absci from $6.00 to $5.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $9.00 price objective on shares of Absci in a report on Wednesday. Finally, Guggenheim reiterated a "buy" rating and set a $10.00 price objective on shares of Absci in a research report on Thursday, March 20th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $7.60.

Absci Price Performance

Absci stock traded up $0.57 during midday trading on Friday, reaching $3.02. 7,162,662 shares of the stock traded hands, compared to its average volume of 2,517,749. The stock has a market cap of $384.61 million, a P/E ratio of -3.25 and a beta of 2.22. The stock's fifty day moving average is $3.56 and its 200-day moving average is $3.50. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.01. Absci Co. has a 12 month low of $2.01 and a 12 month high of $6.33.

Absci (NASDAQ:ABSI - Get Free Report) last posted its earnings results on Tuesday, March 18th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.03). Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. The firm had revenue of $0.67 million for the quarter, compared to the consensus estimate of $1.77 million. As a group, equities research analysts anticipate that Absci Co. will post -0.89 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.