Absci Co. (NASDAQ:ABSI) Shares Bought by EntryPoint Capital LLC

EntryPoint Capital LLC raised its stake in shares of Absci Co. (NASDAQ:ABSI) by 180.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 115,656 shares of the company’s stock after buying an additional 74,397 shares during the quarter. EntryPoint Capital LLC owned about 0.10% of Absci worth $303,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of 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% in the 3rd 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. ARK Investment Management LLC lifted its position in Absci by 30.4% during the fourth 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 in the last quarter. SG Americas Securities LLC purchased a new position in shares of Absci in the 4th quarter valued at $111,000. Finally, Nikko Asset Management Americas Inc. increased its holdings in Absci by 28.5% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 1,143,829 shares of the company’s stock valued at $2,997,000 after purchasing an additional 253,985 shares in the last quarter. 52.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price target on shares of Absci in a research note on Wednesday, March 19th. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Absci in a research note on Wednesday, March 19th. KeyCorp dropped their price target on Absci from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Guggenheim reiterated a “buy” rating and issued a $10.00 price objective on shares of Absci in a research report on Thursday, March 20th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Absci currently has an average rating of “Buy” and an average price target of $7.60.

Absci Stock Down 3.1 %

ABSI stock opened at $2.81 on Friday. Absci Co. has a 1 year low of $2.45 and a 1 year high of $6.72. The company has a fifty day simple moving average of $3.88 and a 200 day simple moving average of $3.63. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.01. The firm has a market cap of $357.81 million, a PE ratio of -3.02 and a beta of 2.09.

Absci (NASDAQ:ABSI) last issued its quarterly earnings results on Tuesday, March 18th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The business had revenue of $0.67 million during the quarter, compared to the consensus estimate of $1.77 million. Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. Sell-side analysts anticipate that Absci Co. will post -0.89 EPS for the current fiscal year.

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.