Absci Co. (NASDAQ:ABSI) Short Interest Update

Absci Co. (NASDAQ:ABSI) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 14,020,000 shares, an increase of 11.4% from the November 30th total of 12,580,000 shares. Based on an average trading volume of 1,490,000 shares, the days-to-cover ratio is presently 9.4 days. Approximately 15.2% of the shares of the company are sold short.

Absci Stock Down 4.3 %

Shares of ABSI stock opened at $2.65 on Tuesday. The company has a 50 day simple moving average of $3.42 and a two-hundred day simple moving average of $3.72. The stock has a market cap of $304.37 million, a P/E ratio of -2.85 and a beta of 2.02. Absci has a 12 month low of $2.45 and a 12 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.

Absci (NASDAQ:ABSI) last announced its earnings results on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.70 million during the quarter, compared to the consensus estimate of $1.77 million. During the same period in the prior year, the business posted ($0.24) earnings per share. On average, research analysts expect that Absci will post -0.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on ABSI. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Absci in a research report on Friday, December 13th. Guggenheim restated a “buy” rating and issued a $10.00 price target 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 MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $8.67.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in Absci by 521.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 285,764 shares of the company’s stock worth $880,000 after acquiring an additional 239,747 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new position in shares of Absci in the second quarter worth approximately $388,000. Rhumbline Advisers increased its stake in shares of Absci by 3,910.6% in the second quarter. Rhumbline Advisers now owns 107,324 shares of the company’s stock worth $331,000 after purchasing an additional 104,648 shares in the last quarter. Pier 88 Investment Partners LLC increased its stake in shares of Absci by 240.2% in the second quarter. Pier 88 Investment Partners LLC now owns 148,220 shares of the company’s stock worth $457,000 after purchasing an additional 104,650 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Absci by 32.3% during the 2nd quarter. American Century Companies Inc. now owns 121,800 shares of the company’s stock valued at $375,000 after purchasing an additional 29,723 shares during the period. 52.05% of the stock is owned by hedge funds and other institutional investors.

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.