MetLife Investment Management LLC Buys 27,355 Shares of Absci Co. (NASDAQ:ABSI)

MetLife Investment Management LLC grew its stake in shares of Absci Co. (NASDAQ:ABSI) by 129.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,549 shares of the company’s stock after acquiring an additional 27,355 shares during the period. MetLife Investment Management LLC’s holdings in Absci were worth $185,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP grew its stake in shares of Absci by 23.3% in the second 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. Vanguard Group Inc. boosted 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 valued at $19,569,000 after purchasing an additional 869,131 shares during the period. Bank of Montreal Can acquired a new position in shares of Absci during the 2nd quarter worth approximately $527,000. Squarepoint Ops LLC increased its holdings in shares of Absci by 72.4% during the second quarter. Squarepoint Ops LLC now owns 369,187 shares of the company’s stock worth $1,137,000 after purchasing an additional 155,007 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Absci by 521.0% in the second quarter. Bank of New York Mellon Corp now owns 285,764 shares of the company’s stock valued at $880,000 after buying an additional 239,747 shares in the last quarter. Institutional investors own 52.05% of the company’s stock.

Absci Stock Up 3.2 %

NASDAQ ABSI opened at $3.21 on Tuesday. The business has a fifty day moving average price of $3.59 and a two-hundred day moving average price of $3.82. The stock has a market capitalization of $368.70 million, a PE ratio of -3.45 and a beta of 2.03. Absci Co. has a fifty-two week low of $2.02 and a fifty-two 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.

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

Analyst Ratings Changes

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

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.