Marathon Trading Investment Management LLC Lowers Holdings in Absci Co. (NASDAQ:ABSI)

Marathon Trading Investment Management LLC decreased its holdings in Absci Co. (NASDAQ:ABSI) by 77.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,887 shares of the company’s stock after selling 68,813 shares during the quarter. Marathon Trading Investment Management LLC’s holdings in Absci were worth $61,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ABSI. ARK Investment Management LLC boosted its stake in shares of Absci by 68.0% in the second quarter. ARK Investment Management LLC now owns 5,503,888 shares of the company’s stock valued at $16,952,000 after purchasing an additional 2,226,794 shares during the period. Affinity Asset Advisors LLC purchased a new position in shares of Absci in the first quarter valued at approximately $5,822,000. Vanguard Group Inc. boosted its stake in shares of Absci by 33.7% in the first quarter. Vanguard Group Inc. now owns 3,445,272 shares of the company’s stock valued at $19,569,000 after purchasing an additional 869,131 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Absci in the first quarter valued at approximately $2,390,000. Finally, Nikko Asset Management Americas Inc. acquired a new stake in Absci in the first quarter valued at approximately $2,386,000. Hedge funds and other institutional investors own 52.05% of the company’s stock.

Absci Stock Up 0.8 %

ABSI stock opened at $3.98 on Thursday. The company has a current ratio of 6.49, a quick ratio of 6.49 and a debt-to-equity ratio of 0.01. Absci Co. has a twelve month low of $1.11 and a twelve month high of $6.72. The company’s 50 day moving average is $4.07 and its two-hundred day moving average is $4.42. The stock has a market cap of $450.07 million, a P/E ratio of -3.43 and a beta of 2.21.

Absci (NASDAQ:ABSI) 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 return on equity of 44.24% and a negative net margin of 2,838.89%. The company had revenue of $1.27 million for the quarter, compared to analyst estimates of $2.05 million. During the same period in the previous year, the business posted ($0.27) EPS. Research analysts expect that Absci Co. will post -0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on ABSI. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Absci in a report on Thursday, August 15th. Morgan Stanley began coverage on shares of Absci in a report on Wednesday, July 3rd. They issued an “overweight” rating and a $7.00 target price on the stock. Finally, KeyCorp reduced their target price on shares of Absci from $8.00 to $6.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $8.40.

Absci 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.