Absci Co. (NASDAQ:ABSI) Short Interest Update

Absci Co. (NASDAQ:ABSI) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 15,490,000 shares, an increase of 10.5% from the December 31st total of 14,020,000 shares. Based on an average daily trading volume, of 2,720,000 shares, the short-interest ratio is presently 5.7 days. Approximately 16.8% of the shares of the stock are short sold.

Absci Trading Down 2.9 %

ABSI opened at $3.71 on Monday. Absci has a one year low of $2.45 and a one year high of $6.72. The stock has a market capitalization of $426.13 million, a PE ratio of -3.99 and a beta of 2.04. The business’s 50 day moving average price is $3.21 and its 200 day moving average price is $3.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63.

Absci (NASDAQ:ABSI) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.24) earnings per share 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 for the quarter, compared to analysts’ expectations of $1.77 million. During the same period in the prior year, the company posted ($0.24) EPS. As a group, equities research analysts expect that Absci will post -0.89 EPS for the current year.

Institutional Trading of Absci

A number of large investors have recently modified their holdings of ABSI. Rhumbline Advisers grew its stake in shares of Absci by 4.2% during the fourth quarter. Rhumbline Advisers now owns 114,152 shares of the company’s stock worth $299,000 after purchasing an additional 4,593 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Absci by 28.5% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,829 shares of the company’s stock worth $2,997,000 after purchasing an additional 253,985 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of Absci during the fourth quarter worth $64,000. Griffin Asset Management Inc. acquired a new position in shares of Absci during the fourth quarter worth $167,000. Finally, SG Americas Securities LLC acquired a new position in shares of Absci during the fourth quarter worth $111,000. Hedge funds and other institutional investors own 52.05% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ABSI. Guggenheim reiterated a “buy” rating and issued a $10.00 price objective on shares of Absci in a report on Tuesday, December 3rd. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Absci in a report on Friday, January 17th. Needham & Company LLC began coverage on Absci in a report on Wednesday, January 22nd. They issued a “buy” rating and a $9.00 price objective on the stock. Finally, KeyCorp lowered their price objective on Absci from $6.00 to $5.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $8.57.

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.