Absci Co. (NASDAQ:ABSI) Shares Sold by Stifel Financial Corp

Stifel Financial Corp reduced its holdings in Absci Co. (NASDAQ:ABSI) by 25.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,278 shares of the company’s stock after selling 4,873 shares during the period. Stifel Financial Corp’s holdings in Absci were worth $37,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. ARK Investment Management LLC increased its position in shares of Absci by 30.4% during the fourth quarter. ARK Investment Management LLC now owns 8,265,936 shares of the company’s stock worth $21,657,000 after purchasing an additional 1,928,314 shares in the last quarter. Royce & Associates LP increased its position in shares of Absci by 472.1% during the fourth quarter. Royce & Associates LP now owns 882,096 shares of the company’s stock worth $2,311,000 after purchasing an additional 727,905 shares in the last quarter. Nikko Asset Management Americas Inc. increased its position in shares of Absci by 28.5% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 1,143,829 shares of the company’s stock worth $2,997,000 after purchasing an additional 253,985 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Absci by 28.5% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,829 shares of the company’s stock worth $2,997,000 after purchasing an additional 253,985 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Absci by 47.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 750,719 shares of the company’s stock worth $1,967,000 after purchasing an additional 241,779 shares in the last quarter. 52.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABSI has been the subject of several research reports. Guggenheim reiterated a “buy” rating and set a $10.00 price target on shares of Absci in a research report on Thursday, March 20th. Needham & Company LLC reiterated a “buy” rating and set a $9.00 price target on shares of Absci in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Absci in a research report on Wednesday, March 19th. Finally, KeyCorp boosted their price objective on Absci from $5.00 to $9.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 16th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $8.40.

Absci Stock Performance

NASDAQ ABSI opened at $2.88 on Friday. The stock’s fifty day moving average is $2.87 and its two-hundred day moving average is $3.34. The firm has a market capitalization of $367.34 million, a P/E ratio of -3.10 and a beta of 2.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63. Absci Co. has a fifty-two week low of $2.01 and a fifty-two week high of $6.33.

Absci (NASDAQ:ABSI) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.02. The company had revenue of $1.18 million for the quarter, compared to analyst estimates of $1.07 million. Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. On average, research analysts anticipate that Absci Co. will post -0.89 earnings per share for the current year.

Absci Profile

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.