Raymond James Financial Services Advisors Inc. Buys Shares of 32,070 Absci Co. (NASDAQ:ABSI)

Raymond James Financial Services Advisors Inc. bought a new stake in Absci Co. (NASDAQ:ABSI) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 32,070 shares of the company’s stock, valued at approximately $135,000.

Separately, Clarius Group LLC acquired a new position in Absci in the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 52.05% of the company’s stock.

Analyst Upgrades and Downgrades

ABSI has been the subject of several research reports. Truist Financial reaffirmed a “buy” rating and issued a $9.00 target price on shares of Absci in a research report on Tuesday, March 26th. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Absci in a research note on Friday, March 22nd. KeyCorp lifted their price objective on Absci from $5.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Finally, Scotiabank reiterated an “outperform” rating and issued a $13.00 price objective on shares of Absci in a research note on Monday, March 25th.

Insider Buying and Selling

In other Absci news, Director Redmile Group, Llc bought 222,222 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average price of $4.50 per share, for a total transaction of $999,999.00. Following the completion of the purchase, the director now directly owns 8,253,316 shares in the company, valued at $37,139,922. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 11.58% of the stock is owned by company insiders.

Absci Stock Performance

Shares of ABSI opened at $4.46 on Friday. The stock has a 50-day simple moving average of $5.18 and a 200-day simple moving average of $3.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.08 and a current ratio of 4.08. The stock has a market capitalization of $502.48 million, a PE ratio of -3.71 and a beta of 2.36. Absci Co. has a 1 year low of $1.11 and a 1 year high of $6.72.

Absci (NASDAQ:ABSI) last posted its earnings results on Thursday, March 21st. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The business had revenue of $0.34 million for the quarter, compared to analysts’ expectations of $1.75 million. Absci had a negative return on equity of 44.52% and a negative net margin of 1,933.65%. On average, analysts predict that Absci Co. will post -0.76 earnings per share 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.