Farther Finance Advisors LLC Buys 10,275 Shares of Absci Co. (NASDAQ:ABSI)

Farther Finance Advisors LLC grew its position in shares of Absci Co. (NASDAQ:ABSI) by 119.5% in the 3rd quarter, Holdings Channel reports. The firm owned 18,876 shares of the company’s stock after acquiring an additional 10,275 shares during the quarter. Farther Finance Advisors LLC’s holdings in Absci were worth $72,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Comerica Bank acquired a new position in Absci in the first quarter valued at $31,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Absci in the 3rd quarter worth about $53,000. SG Americas Securities LLC acquired a new position in shares of Absci in the 1st quarter valued at about $63,000. Avantax Advisory Services Inc. bought a new stake in shares of Absci during the 1st quarter valued at about $71,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Absci during the second quarter worth approximately $100,000. 52.05% of the stock is owned by institutional investors.

Absci Stock Down 15.0 %

Absci stock opened at $3.64 on Wednesday. The company has a current ratio of 6.49, a quick ratio of 6.49 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average price is $3.99 and its two-hundred day moving average price is $4.09. The firm has a market capitalization of $413.36 million, a price-to-earnings ratio of -4.30 and a beta of 2.18. Absci Co. has a 1-year low of $1.22 and a 1-year high of $6.72.

Absci (NASDAQ:ABSI) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). Absci had a negative net margin of 2,838.89% and a negative return on equity of 44.24%. The company had revenue of $1.27 million for the quarter, compared to analyst estimates of $2.05 million. During the same quarter last year, the firm posted ($0.27) EPS. On average, equities research analysts predict that Absci Co. will post -0.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ABSI shares. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Absci in a research note on Thursday, August 15th. Guggenheim assumed coverage on shares of Absci in a research report on Wednesday, October 2nd. They set a “buy” rating and a $10.00 target price on the stock. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Absci currently has an average rating of “Buy” and an average price target of $8.67.

About Absci

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.