Absci Co. (NASDAQ:ABSI) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in shares of Absci Co. (NASDAQ:ABSI) by 23.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 142,174 shares of the company’s stock after selling 43,674 shares during the period. Victory Capital Management Inc. owned about 0.13% of Absci worth $438,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABSI. Rhumbline Advisers grew its holdings in shares of Absci by 3,910.6% during the second quarter. Rhumbline Advisers now owns 107,324 shares of the company’s stock worth $331,000 after buying an additional 104,648 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new position in shares of Absci during the second quarter worth about $388,000. ARK Investment Management LLC grew its holdings in shares of Absci by 68.0% during 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 during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Absci by 521.0% during the second quarter. Bank of New York Mellon Corp now owns 285,764 shares of the company’s stock worth $880,000 after buying an additional 239,747 shares during the last quarter. Finally, Institute for Wealth Management LLC. grew its holdings in shares of Absci by 110.3% during the second quarter. Institute for Wealth Management LLC. now owns 510,902 shares of the company’s stock worth $1,574,000 after buying an additional 268,019 shares during the last quarter. Institutional investors and hedge funds own 52.05% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ABSI shares. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Absci in a report on Thursday, August 15th. KeyCorp lowered their price target on Absci from $8.00 to $6.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Finally, Morgan Stanley began coverage on Absci in a report on Wednesday, July 3rd. They issued an “overweight” rating and a $7.00 price objective on the stock. Five investment 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 target price of $8.40.

Absci Price Performance

Shares of ABSI opened at $4.32 on Monday. Absci Co. has a twelve month low of $1.11 and a twelve month high of $6.72. The stock’s 50 day moving average is $4.08 and its two-hundred day moving average is $4.40. The firm has a market capitalization of $488.52 million, a PE ratio of -3.72 and a beta of 2.21. The company has a current ratio of 6.49, a quick ratio of 6.49 and a debt-to-equity ratio of 0.01.

Absci (NASDAQ:ABSI) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.03). The firm had revenue of $1.27 million for the quarter, compared to analysts’ expectations of $2.05 million. Absci had a negative return on equity of 44.24% and a negative net margin of 2,838.89%. During the same period last year, the firm earned ($0.27) EPS. Research analysts anticipate that Absci Co. will post -0.8 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.