Absci Co. (NASDAQ:ABSI) Short Interest Update

Absci Co. (NASDAQ:ABSI) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 13,070,000 shares, a growth of 8.2% from the August 31st total of 12,080,000 shares. Based on an average daily volume of 1,430,000 shares, the days-to-cover ratio is presently 9.1 days. Currently, 14.3% of the company’s shares are short sold.

Hedge Funds Weigh In On Absci

Large investors have recently bought and sold shares of the stock. ARK Investment Management LLC raised its stake in shares of Absci by 68.0% during the 2nd quarter. ARK Investment Management LLC now owns 5,503,888 shares of the company’s stock worth $16,952,000 after purchasing an additional 2,226,794 shares during the period. Affinity Asset Advisors LLC bought a new stake in shares of Absci during the 1st quarter worth $5,822,000. Vanguard Group Inc. raised its stake in shares of Absci by 33.7% during the 1st quarter. Vanguard Group Inc. now owns 3,445,272 shares of the company’s stock worth $19,569,000 after purchasing an additional 869,131 shares during the period. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Absci during the 1st quarter worth $2,390,000. Finally, Nikko Asset Management Americas Inc. bought a new stake in shares of Absci during the 1st quarter worth $2,386,000. 52.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on ABSI shares. KeyCorp reduced their price objective on shares of Absci from $8.00 to $6.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Morgan Stanley started coverage on shares of Absci in a research report on Wednesday, July 3rd. They set an “overweight” rating and a $7.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Absci in a research report on Thursday, August 15th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Absci has a consensus rating of “Buy” and a consensus price target of $8.40.

Absci Stock Performance

NASDAQ ABSI opened at $3.62 on Wednesday. The company has a fifty day simple moving average of $4.05 and a 200 day simple moving average of $4.35. Absci has a 12-month low of $1.11 and a 12-month high of $6.72. The company has a current ratio of 6.49, a quick ratio of 6.49 and a debt-to-equity ratio of 0.01. The company has a market cap of $409.36 million, a P/E ratio of -3.12 and a beta of 2.21.

Absci (NASDAQ:ABSI) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Absci had a negative net margin of 2,838.89% and a negative return on equity of 44.24%. The company had revenue of $1.27 million for the quarter, compared to the consensus estimate of $2.05 million. During the same quarter last year, the business posted ($0.27) earnings per share. Sell-side analysts predict that Absci will post -0.8 earnings per share for the current fiscal year.

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.