Absci Co. (NASDAQ:ABSI) Shares Purchased by Invesco Ltd.

Invesco Ltd. raised its holdings in shares of Absci Co. (NASDAQ:ABSI) by 15.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,535 shares of the company’s stock after acquiring an additional 5,719 shares during the period. Invesco Ltd.’s holdings in Absci were worth $114,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Alpha Cubed Investments LLC acquired a new position in shares of Absci during the 4th quarter valued at $26,000. PCA Investment Advisory Services Inc. acquired a new position in shares of Absci in the fourth quarter worth about $26,000. Ballentine Partners LLC purchased a new stake in shares of Absci in the fourth quarter valued at $27,000. Verdence Capital Advisors LLC acquired a new stake in shares of Absci in the fourth quarter worth $37,000. Finally, China Universal Asset Management Co. Ltd. purchased a new position in Absci during the 4th quarter valued at about $64,000. Institutional investors and hedge funds own 52.05% of the company’s stock.

Absci Stock Performance

NASDAQ ABSI opened at $2.87 on Tuesday. Absci Co. has a twelve month low of $2.01 and a twelve month high of $6.33. 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 stock has a market cap of $366.06 million, a P/E ratio of -3.09 and a beta of 2.19. The company’s 50-day simple moving average is $2.96 and its 200 day simple moving average is $3.41.

Absci (NASDAQ:ABSI) last posted its 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). Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. The company had revenue of $0.67 million for the quarter, compared to the consensus estimate of $1.77 million. As a group, research analysts forecast that Absci Co. will post -0.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Absci in a research report on Wednesday, March 19th. Guggenheim reiterated a “buy” rating and set a $10.00 price target on shares of Absci in a report on Thursday, March 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 target price on shares of Absci in a report on Wednesday, April 9th. Finally, KeyCorp upped their price objective on shares of Absci from $5.00 to $9.00 and gave the company an “overweight” rating in a research report on Wednesday, April 16th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Absci currently has an average rating of “Buy” and a consensus 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.