Marshall Wace LLP Grows Stake in Absci Co. (NASDAQ:ABSI)

Marshall Wace LLP boosted its holdings in shares of Absci Co. (NASDAQ:ABSI) by 23.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,833,902 shares of the company’s stock after purchasing an additional 347,079 shares during the quarter. Marshall Wace LLP owned about 1.62% of Absci worth $5,648,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ABSI. ARK Investment Management LLC raised its position in shares of Absci by 68.0% during the second quarter. ARK Investment Management LLC now owns 5,503,888 shares of the company’s stock valued at $16,952,000 after buying an additional 2,226,794 shares during the last quarter. Affinity Asset Advisors LLC bought a new position in shares of Absci during the first quarter worth $5,822,000. Vanguard Group Inc. grew its stake in Absci by 33.7% during the first quarter. Vanguard Group Inc. now owns 3,445,272 shares of the company’s stock valued at $19,569,000 after acquiring an additional 869,131 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Absci in the 1st quarter valued at $2,390,000. Finally, Nikko Asset Management Americas Inc. purchased a new stake in Absci in the 1st quarter worth $2,386,000. 52.05% of the stock is owned by hedge funds and other institutional investors.

Absci Stock Down 3.8 %

Shares of NASDAQ ABSI opened at $3.82 on Tuesday. The company has a current ratio of 6.49, a quick ratio of 6.49 and a debt-to-equity ratio of 0.01. Absci Co. has a 12-month low of $1.11 and a 12-month high of $6.72. The firm’s 50-day moving average price is $4.06 and its 200-day moving average price is $4.36. The stock has a market capitalization of $431.98 million, a price-to-earnings ratio of -3.29 and a beta of 2.21.

Absci (NASDAQ:ABSI) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.03). The company had revenue of $1.27 million during the quarter, compared to the consensus estimate of $2.05 million. Absci had a negative net margin of 2,838.89% and a negative return on equity of 44.24%. During the same period in the previous year, the business earned ($0.27) earnings per share. On average, equities research analysts anticipate that Absci Co. will post -0.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ABSI. Morgan Stanley started coverage on Absci in a research report on Wednesday, July 3rd. They set an “overweight” rating and a $7.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Absci in a report on Thursday, August 15th. Finally, KeyCorp decreased their price objective on Absci from $8.00 to $6.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $8.40.

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.