Fmr LLC Buys 147,156 Shares of Absci Co. (NASDAQ:ABSI)

Fmr LLC increased its position in Absci Co. (NASDAQ:ABSI) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,727,760 shares of the company’s stock after purchasing an additional 147,156 shares during the period. Fmr LLC owned approximately 0.11% of Absci worth $48,620,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. ARK Investment Management LLC lifted 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 worth $16,952,000 after buying an additional 2,226,794 shares in the last quarter. Vanguard Group Inc. raised its holdings in Absci by 33.7% in the 1st quarter. Vanguard Group Inc. now owns 3,445,272 shares of the company’s stock worth $19,569,000 after acquiring an additional 869,131 shares during the last quarter. Marshall Wace LLP lifted its position in Absci by 23.3% in the 2nd quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock valued at $5,648,000 after acquiring an additional 347,079 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Absci by 73.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 731,758 shares of the company’s stock valued at $2,254,000 after purchasing an additional 310,946 shares during the last quarter. Finally, Institute for Wealth Management LLC. increased its holdings in shares of Absci by 110.3% in the 2nd quarter. Institute for Wealth Management LLC. now owns 510,902 shares of the company’s stock worth $1,574,000 after purchasing an additional 268,019 shares in the last quarter. 52.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Absci in a report on Wednesday, November 13th. Guggenheim reaffirmed a “buy” rating and set a $10.00 price target on shares of Absci in a report on Tuesday, December 3rd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Absci presently has a consensus rating of “Buy” and an average price target of $8.67.

Absci Price Performance

Shares of NASDAQ:ABSI opened at $3.11 on Friday. Absci Co. has a 52-week low of $2.02 and a 52-week high of $6.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63. The stock’s 50-day simple moving average is $3.60 and its two-hundred day simple moving average is $3.84.

Absci (NASDAQ:ABSI) last announced its earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.05). Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. The business had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.77 million. During the same quarter last year, the firm posted ($0.24) earnings per share. As a group, equities analysts forecast that Absci Co. will post -0.9 earnings per share for the current year.

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.