Absci Co. (NASDAQ:ABSI) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in Absci Co. (NASDAQ:ABSI) by 3,910.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,324 shares of the company’s stock after purchasing an additional 104,648 shares during the quarter. Rhumbline Advisers owned approximately 0.09% of Absci worth $331,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Comerica Bank acquired a new position in shares of Absci during the first quarter valued at $31,000. D Orazio & Associates Inc. boosted its holdings in shares of Absci by 27.3% during the first quarter. D Orazio & Associates Inc. now owns 28,000 shares of the company’s stock valued at $159,000 after acquiring an additional 6,000 shares during the period. SG Americas Securities LLC acquired a new position in shares of Absci during the first quarter valued at $63,000. Avantax Advisory Services Inc. acquired a new position in shares of Absci during the first quarter valued at $71,000. Finally, Jump Financial LLC acquired a new position in shares of Absci during the fourth quarter valued at $67,000. Institutional investors and hedge funds own 52.05% of the company’s stock.

Absci Price Performance

Shares of NASDAQ ABSI opened at $3.97 on Friday. The company has a quick ratio of 6.49, a current ratio of 6.49 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $4.07 and its 200 day simple moving average is $4.37. Absci Co. has a fifty-two week low of $1.11 and a fifty-two week high of $6.72. The stock has a market cap of $448.94 million, a P/E ratio of -3.42 and a beta of 2.21.

Absci (NASDAQ:ABSI) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.27 million during the quarter, compared to the consensus estimate of $2.05 million. During the same quarter last year, the firm posted ($0.27) earnings per share. Equities analysts expect that Absci Co. will post -0.8 EPS for the current year.

Wall Street Analyst Weigh In

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