Pier 88 Investment Partners LLC Sells 12,100 Shares of Absci Co. (NASDAQ:ABSI)

Pier 88 Investment Partners LLC lessened its holdings in Absci Co. (NASDAQ:ABSIFree Report) by 8.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 136,120 shares of the company’s stock after selling 12,100 shares during the quarter. Pier 88 Investment Partners LLC owned 0.12% of Absci worth $520,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Comerica Bank acquired a new position in Absci in the first quarter worth about $31,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Absci during the 3rd quarter worth approximately $53,000. SG Americas Securities LLC acquired a new stake in Absci in the 1st quarter valued at $63,000. Avantax Advisory Services Inc. acquired a new stake in shares of Absci during the 1st quarter worth about $71,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Absci by 119.5% during the third quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock worth $72,000 after buying an additional 10,275 shares in the last quarter. 52.05% of the stock is owned by institutional investors.

Absci Stock Performance

Shares of NASDAQ:ABSI opened at $3.14 on Thursday. The firm’s 50 day simple moving average is $3.96 and its 200 day simple moving average is $4.08. 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 company has a market capitalization of $356.58 million, a price-to-earnings ratio of -3.38 and a beta of 2.18. Absci Co. has a fifty-two week low of $1.28 and a fifty-two week high of $6.72.

Absci (NASDAQ:ABSIGet Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.24) earnings per share 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 45.94%. The business had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.77 million. During the same quarter last year, the firm earned ($0.24) EPS. As a group, sell-side analysts forecast that Absci Co. will post -0.8 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on ABSI shares. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Absci in a research note on Wednesday. Guggenheim began coverage on shares of Absci in a report on Wednesday, October 2nd. They set a “buy” rating and a $10.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Absci has a consensus rating of “Buy” and an average target price of $8.67.

Read Our Latest Stock Analysis on ABSI

Absci Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Absci (NASDAQ:ABSI)

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