Sumitomo Mitsui Trust Group Inc. lifted its holdings in Absci Co. (NASDAQ:ABSI - Free Report) by 28.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,143,829 shares of the company's stock after purchasing an additional 253,985 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 1.00% of Absci worth $2,997,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the business. PCA Investment Advisory Services Inc. bought a new stake in Absci during the 4th quarter worth approximately $26,000. Alpha Cubed Investments LLC purchased a new stake in Absci during the 4th quarter valued at approximately $26,000. Ballentine Partners LLC purchased a new stake in Absci during the 4th quarter valued at approximately $27,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Absci during the 3rd quarter valued at approximately $53,000. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in Absci during the 4th quarter valued at approximately $64,000. Institutional investors own 52.05% of the company's stock.
Absci Price Performance
Shares of ABSI stock traded up $0.82 on Monday, reaching $5.82. The company's stock had a trading volume of 9,754,829 shares, compared to its average volume of 5,497,755. The stock's fifty day simple moving average is $3.61 and its 200-day simple moving average is $3.72. Absci Co. has a 1 year low of $2.45 and a 1 year 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. The company has a market capitalization of $668.46 million, a price-to-earnings ratio of -6.26 and a beta of 2.11.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on ABSI shares. Guggenheim reaffirmed a "buy" rating and set a $10.00 price objective on shares of Absci in a report on Tuesday, December 3rd. HC Wainwright reaffirmed a "buy" rating and set a $7.00 price objective on shares of Absci in a report on Friday, January 17th. Needham & Company LLC started coverage on shares of Absci in a report on Wednesday, January 22nd. They set a "buy" rating and a $9.00 price objective for the company. Finally, KeyCorp cut their price objective on shares of Absci from $6.00 to $5.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $8.57.
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Absci Company Profile
(
Free Report)
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.
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