Cambridge Investment Research Advisors Inc. Buys Shares of 10,330 Absci Corporation (NASDAQ:ABSI)

Cambridge Investment Research Advisors Inc. bought a new stake in shares of Absci Corporation (NASDAQ:ABSI) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 10,330 shares of the company’s stock, valued at approximately $26,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ABSI. BNP Paribas Financial Markets bought a new stake in shares of Absci during the 4th quarter valued at $28,000. Synergy Asset Management LLC bought a new stake in shares of Absci during the 1st quarter valued at $38,000. Mariner LLC bought a new stake in shares of Absci during the 4th quarter valued at $62,000. Price T Rowe Associates Inc. MD raised its position in shares of 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 acquiring an additional 3,747 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Absci by 119.9% during the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 30,733 shares of the company’s stock valued at $81,000 after acquiring an additional 16,756 shares during the last quarter. Institutional investors own 52.05% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Absci in a research report on Wednesday, March 19th. Morgan Stanley assumed coverage on shares of Absci in a research report on Thursday, July 3rd. They issued an “overweight” rating and a $7.00 price objective for the company. Guggenheim restated a “buy” rating and issued a $10.00 price objective on shares of Absci in a research report on Thursday, March 20th. 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. Finally, Wall Street Zen cut shares of Absci from a “hold” rating to a “sell” rating in a research report on Sunday, June 29th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, Absci presently has an average rating of “Moderate Buy” and an average target price of $8.40.

Absci Trading Down 3.4%

ABSI stock opened at $2.57 on Wednesday. The stock has a 50-day moving average price of $2.77 and a two-hundred day moving average price of $3.18. The stock has a market cap of $327.83 million, a PE ratio of -2.79 and a beta of 2.01. Absci Corporation has a 1 year low of $2.01 and a 1 year high of $6.33.

Absci (NASDAQ:ABSI) last released its earnings results on Tuesday, May 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.02. The firm had revenue of $1.18 million during the quarter, compared to analysts’ expectations of $1.07 million. Absci had a negative return on equity of 53.69% and a negative net margin of 2,232.13%. On average, analysts forecast that Absci Corporation will post -0.89 earnings per share for the current fiscal 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.