Absci Co. (NASDAQ:ABSI) Short Interest Up 8.2% in September

Absci Co. (NASDAQ:ABSI) saw a significant growth in short interest in September. As of September 15th, there was short interest totalling 13,070,000 shares, a growth of 8.2% from the August 31st total of 12,080,000 shares. Approximately 14.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,430,000 shares, the short-interest ratio is presently 9.1 days.

Institutional Investors Weigh In On Absci

A number of institutional investors have recently added to or reduced their stakes in the company. Redmile Group LLC grew its position in Absci by 2.8% during the first quarter. Redmile Group LLC now owns 8,253,316 shares of the company’s stock valued at $46,879,000 after acquiring an additional 222,222 shares during the period. ARK Investment Management LLC lifted its stake in shares of Absci by 68.0% during the second quarter. ARK Investment Management LLC now owns 5,503,888 shares of the company’s stock worth $16,952,000 after purchasing an additional 2,226,794 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Absci by 33.7% during the first quarter. Vanguard Group Inc. now owns 3,445,272 shares of the company’s stock worth $19,569,000 after purchasing an additional 869,131 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Absci by 23.3% during the second quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock worth $5,648,000 after purchasing an additional 347,079 shares in the last quarter. Finally, Affinity Asset Advisors LLC acquired a new position in shares of Absci during the first quarter worth about $5,822,000. Hedge funds and other institutional investors own 52.05% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on ABSI shares. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Absci in a research report on Thursday, August 15th. Morgan Stanley started coverage on Absci in a research report on Wednesday, July 3rd. They set an “overweight” rating and a $7.00 price target for the company. Finally, KeyCorp lowered their price objective on Absci from $8.00 to $6.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $8.40.

Absci Price Performance

Shares of NASDAQ:ABSI opened at $3.97 on Monday. The company has a market cap of $448.94 million, a P/E ratio of -3.42 and a beta of 2.21. The company has a quick ratio of 6.49, a current ratio of 6.49 and a debt-to-equity ratio of 0.01. Absci has a 52 week low of $1.11 and a 52 week high of $6.72. The business has a fifty day simple moving average of $4.07 and a 200-day simple moving average of $4.36.

Absci (NASDAQ:ABSI) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). The business had revenue of $1.27 million during the quarter, compared to analysts’ expectations of $2.05 million. Absci had a negative net margin of 2,838.89% and a negative return on equity of 44.24%. During the same period in the prior year, the firm earned ($0.27) EPS. Equities research analysts forecast that Absci 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.