Absci Co. (NASDAQ:ABSI) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP raised its stake in Absci Co. (NASDAQ:ABSI) by 44.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 348,854 shares of the company’s stock after acquiring an additional 107,980 shares during the quarter. Wellington Management Group LLP’s holdings in Absci were worth $1,333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ABSI. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Absci during the 3rd quarter worth about $53,000. Farther Finance Advisors LLC grew its holdings in shares of Absci by 119.5% during the third quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock worth $72,000 after buying an additional 10,275 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Absci in the third quarter valued at approximately $86,000. The Manufacturers Life Insurance Company purchased a new position in shares of Absci during the second quarter valued at approximately $100,000. Finally, Brookstone Capital Management acquired a new stake in Absci during the second quarter worth approximately $110,000. 52.05% of the stock is currently owned by hedge funds and other institutional investors.

Absci Price Performance

Shares of Absci stock opened at $2.92 on Friday. The business’s fifty day moving average price is $3.55 and its 200 day moving average price is $3.79. Absci Co. has a twelve month low of $2.45 and a twelve month high of $6.72. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $335.38 million, a P/E ratio of -3.14 and a beta of 2.02.

Absci (NASDAQ:ABSI) last released 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). The firm had revenue of $1.70 million during the quarter, compared to analyst estimates of $1.77 million. Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. During the same period in the prior year, the firm earned ($0.24) earnings per share. As a group, research analysts anticipate that Absci Co. will post -0.9 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ABSI shares. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Absci in a report on Friday, December 13th. Guggenheim reiterated a “buy” rating and issued a $10.00 target price on shares of Absci in a research note on Tuesday, December 3rd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus 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.