Northern Trust Corp Has $1.72 Million Stock Holdings in Absci Co. (NASDAQ:ABSI)

Northern Trust Corp raised its stake in Absci Co. (NASDAQ:ABSI) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 655,659 shares of the company’s stock after purchasing an additional 22,188 shares during the quarter. Northern Trust Corp owned approximately 0.57% of Absci worth $1,718,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ABSI. Ballentine Partners LLC bought a new stake in Absci in the fourth quarter valued at approximately $27,000. Verdence Capital Advisors LLC acquired a new position in shares of Absci during the 4th quarter worth approximately $37,000. Mariner LLC acquired a new position in shares of Absci during the 4th quarter worth approximately $62,000. China Universal Asset Management Co. Ltd. bought a new stake in Absci in the 4th quarter valued at $64,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Absci by 14.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,333 shares of the company’s stock valued at $77,000 after purchasing an additional 3,747 shares during the last quarter. Institutional investors and hedge funds own 52.05% of the company’s stock.

Absci Price Performance

Shares of NASDAQ:ABSI opened at $2.66 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63. The company has a market capitalization of $339.31 million, a PE ratio of -2.86 and a beta of 2.19. Absci Co. has a 52-week low of $2.01 and a 52-week high of $6.33. The company has a fifty day moving average of $2.82 and a 200-day moving average of $3.27.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on ABSI. Guggenheim reissued a “buy” rating and set a $10.00 target price on shares of Absci in a report on Thursday, March 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 target price on shares of Absci in a report on Wednesday, May 14th. KeyCorp upped their price objective on shares of Absci from $5.00 to $9.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 16th. Wall Street Zen raised shares of Absci from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Absci in a research report on Wednesday, March 19th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.