Short Interest in Absci Co. (NASDAQ:ABSI) Expands By 10.5%

Absci Co. (NASDAQ:ABSI) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 15,490,000 shares, a growth of 10.5% from the December 15th total of 14,020,000 shares. Approximately 16.8% of the company’s stock are short sold. Based on an average trading volume of 2,720,000 shares, the days-to-cover ratio is currently 5.7 days.

Absci Stock Performance

ABSI opened at $2.90 on Friday. Absci has a 52-week low of $2.45 and a 52-week high of $6.72. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.01. The company has a market cap of $333.08 million, a P/E ratio of -3.12 and a beta of 2.04. The firm’s 50-day moving average price is $3.07 and its 200-day moving average price is $3.68.

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

Analyst Ratings Changes

Several analysts recently weighed in on ABSI shares. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Absci in a report on Friday. KeyCorp reduced their target price on shares of Absci from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Guggenheim reiterated a “buy” rating and issued a $10.00 target price on shares of Absci in a report on Tuesday, December 3rd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $8.50.

Institutional Investors Weigh In On Absci

A number of large investors have recently bought and sold shares of ABSI. Bank of New York Mellon Corp boosted its position in 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 during the last quarter. Rhumbline Advisers boosted its position in Absci by 3,910.6% in the second quarter. Rhumbline Advisers now owns 107,324 shares of the company’s stock valued at $331,000 after buying an additional 104,648 shares during the last quarter. American Century Companies Inc. boosted its position in Absci by 32.3% in the 2nd quarter. American Century Companies Inc. now owns 121,800 shares of the company’s stock worth $375,000 after purchasing an additional 29,723 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Absci by 88.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 125,089 shares of the company’s stock worth $385,000 after purchasing an additional 58,556 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in Absci in the 2nd quarter worth approximately $527,000. Hedge funds and other institutional investors own 52.05% of the company’s stock.

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.