American Century Companies Inc. Increases Stock Holdings in Absci Corporation $ABSI

American Century Companies Inc. boosted its position in Absci Corporation (NASDAQ:ABSI) by 9.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 165,178 shares of the company’s stock after purchasing an additional 14,343 shares during the period. American Century Companies Inc. owned about 0.13% of Absci worth $415,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ABSI. ARK Investment Management LLC boosted its position in Absci by 32.5% in the first quarter. ARK Investment Management LLC now owns 10,955,089 shares of the company’s stock worth $27,497,000 after purchasing an additional 2,689,153 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Absci in the first quarter worth about $5,792,000. Nuveen LLC purchased a new position in Absci in the first quarter worth about $1,251,000. Two Sigma Advisers LP boosted its position in Absci by 191.9% in the fourth quarter. Two Sigma Advisers LP now owns 676,400 shares of the company’s stock worth $1,772,000 after purchasing an additional 444,700 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in Absci by 97.2% in the fourth quarter. Two Sigma Investments LP now owns 899,648 shares of the company’s stock worth $2,357,000 after purchasing an additional 443,410 shares during the last quarter. 52.05% of the stock is owned by hedge funds and other institutional investors.

Absci Stock Up 2.5%

ABSI stock opened at $2.46 on Friday. Absci Corporation has a twelve month low of $2.01 and a twelve month high of $6.33. The stock has a market cap of $367.82 million, a P/E ratio of -2.62 and a beta of 2.01. The business’s 50-day moving average price is $2.79 and its 200-day moving average price is $2.91.

Absci (NASDAQ:ABSI) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). Absci had a negative net margin of 2,737.94% and a negative return on equity of 60.21%. The company had revenue of $0.59 million for the quarter, compared to analysts’ expectations of $1.39 million. On average, equities research analysts expect that Absci Corporation will post -0.89 earnings per share for the current fiscal year.

Insider Transactions at Absci

In related news, insider Andreas Busch acquired 50,000 shares of the business’s stock in a transaction on Monday, July 28th. The stock was acquired at an average cost of $3.04 per share, with a total value of $152,000.00. Following the acquisition, the insider directly owned 327,264 shares in the company, valued at $994,882.56. This represents a 18.03% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 10.49% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on ABSI. Wall Street Zen cut Absci from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 16th. Morgan Stanley lowered their price objective on Absci from $6.40 to $5.89 and set an “overweight” rating on the stock in a research report on Monday, August 18th. Finally, Needham & Company LLC lowered their price objective on Absci from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $7.98.

Absci Company 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.