American Century Companies Inc. Purchases 29,723 Shares of Absci Co. (NASDAQ:ABSI)

American Century Companies Inc. increased its position in Absci Co. (NASDAQ:ABSI) by 32.3% in the 2nd quarter, Holdings Channel reports. The firm owned 121,800 shares of the company’s stock after buying an additional 29,723 shares during the quarter. American Century Companies Inc.’s holdings in Absci were worth $375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Comerica Bank bought a new position in shares of Absci during the 1st quarter worth about $31,000. D Orazio & Associates Inc. raised its position in Absci by 27.3% in the first quarter. D Orazio & Associates Inc. now owns 28,000 shares of the company’s stock worth $159,000 after purchasing an additional 6,000 shares in the last quarter. SG Americas Securities LLC bought a new position in Absci during the first quarter worth about $63,000. Avantax Advisory Services Inc. acquired a new stake in Absci during the first quarter valued at approximately $71,000. Finally, Cannon Global Investment Management LLC bought a new stake in shares of Absci in the 1st quarter valued at approximately $104,000. Institutional investors and hedge funds own 52.05% of the company’s stock.

Absci Price Performance

ABSI opened at $3.81 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.49 and a quick ratio of 6.49. The stock has a market capitalization of $430.85 million, a P/E ratio of -3.28 and a beta of 2.19. The company’s 50 day simple moving average is $4.04 and its 200-day simple moving average is $4.34. Absci Co. has a one year low of $1.11 and a one year high of $6.72.

Absci (NASDAQ:ABSI) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). The firm had revenue of $1.27 million during the quarter, compared to the consensus estimate of $2.05 million. Absci had a negative net margin of 2,838.89% and a negative return on equity of 44.24%. During the same quarter in the previous year, the business posted ($0.27) earnings per share. Sell-side analysts anticipate that Absci Co. will post -0.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ABSI has been the subject of several analyst reports. Guggenheim initiated coverage on Absci in a research report on Wednesday. They set a “buy” rating and a $10.00 target price for the company. Morgan Stanley initiated coverage on shares of Absci in a research note on Wednesday, July 3rd. They issued an “overweight” rating and a $7.00 target price for the company. KeyCorp decreased their price target on Absci from $8.00 to $6.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Finally, HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Absci in a research report on Thursday, August 15th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Absci currently has an average rating of “Buy” and a consensus target price 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.