Absci Co. (NASDAQ:ABSI) Shares Acquired by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. boosted its position in Absci Co. (NASDAQ:ABSI) by 28.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,143,829 shares of the company’s stock after acquiring an additional 253,985 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Absci were worth $2,997,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. boosted its stake in Absci by 28.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,829 shares of the company’s stock valued at $2,997,000 after acquiring an additional 253,985 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Absci by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 49,379 shares of the company’s stock worth $189,000 after purchasing an additional 6,409 shares during the period. SG Americas Securities LLC bought a new position in shares of Absci in the 4th quarter worth about $111,000. ARK Investment Management LLC boosted its holdings in shares of Absci by 30.4% in the 4th quarter. ARK Investment Management LLC now owns 8,265,936 shares of the company’s stock valued at $21,657,000 after buying an additional 1,928,314 shares during the period. Finally, Barclays PLC grew its position in shares of Absci by 379.6% during the 3rd quarter. Barclays PLC now owns 131,504 shares of the company’s stock valued at $503,000 after buying an additional 104,083 shares during the last quarter. 52.05% of the stock is currently owned by institutional investors and hedge funds.

Absci Stock Performance

ABSI stock opened at $3.21 on Tuesday. The company has a market capitalization of $368.69 million, a P/E ratio of -3.45 and a beta of 2.09. 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 50-day simple moving average of $3.87 and a 200 day simple moving average of $3.69. Absci Co. has a fifty-two week low of $2.45 and a fifty-two week high of $6.72.

Wall Street Analysts Forecast Growth

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

Absci Company Profile

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.