Deerfield Management Company L.P. Series C Purchases 135,652 Shares of Absci Co. (NASDAQ:ABSI)

Deerfield Management Company L.P. Series C boosted its position in shares of Absci Co. (NASDAQ:ABSI) by 285.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 183,093 shares of the company’s stock after buying an additional 135,652 shares during the period. Deerfield Management Company L.P. Series C owned approximately 0.16% of Absci worth $564,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ABSI. Comerica Bank purchased a new stake in shares of Absci during the 1st quarter worth approximately $31,000. SG Americas Securities LLC purchased a new stake in Absci during the first quarter valued at $63,000. Jump Financial LLC bought a new position in Absci during the fourth quarter valued at $67,000. Avantax Advisory Services Inc. purchased a new position in shares of Absci in the 1st quarter worth $71,000. Finally, Cannon Global Investment Management LLC bought a new stake in shares of Absci in the 1st quarter worth about $104,000. Hedge funds and other institutional investors own 52.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ABSI. KeyCorp lowered 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 reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Absci in a research note on Thursday, August 15th. Finally, Morgan Stanley started coverage on Absci in a report on Wednesday, July 3rd. They issued an “overweight” rating and a $7.00 target price for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $8.40.

Absci Stock Performance

Absci stock opened at $4.11 on Friday. 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 capitalization of $464.78 million, a P/E ratio of -3.54 and a beta of 2.21. Absci Co. has a 1-year low of $1.11 and a 1-year high of $6.72. The company’s 50-day moving average is $4.07 and its 200 day moving average is $4.38.

Absci (NASDAQ:ABSI) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.22) earnings per share 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 analysts’ expectations of $2.05 million. During the same quarter in the previous year, the company posted ($0.27) earnings per share. Research analysts forecast that Absci Co. will post -0.8 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.