Victory Capital Management Inc. Acquires 8,388 Shares of Absci Co. (NASDAQ:ABSI)

Victory Capital Management Inc. raised its holdings in shares of Absci Co. (NASDAQ:ABSI) by 5.9% in the third quarter, Holdings Channel.com reports. The firm owned 150,562 shares of the company’s stock after purchasing an additional 8,388 shares during the period. Victory Capital Management Inc.’s holdings in Absci were worth $575,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Comerica Bank purchased a new position in shares of Absci in the 1st quarter worth about $31,000. Farther Finance Advisors LLC increased its stake in Absci by 119.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock valued at $72,000 after purchasing an additional 10,275 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Absci in the third quarter worth about $53,000. American Century Companies Inc. raised its holdings in Absci by 32.3% in the second quarter. American Century Companies Inc. now owns 121,800 shares of the company’s stock worth $375,000 after buying an additional 29,723 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Absci in the second quarter worth approximately $100,000. 52.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on ABSI shares. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Absci in a research note on Wednesday, November 13th. Guggenheim started coverage on Absci in a research report on Wednesday, October 2nd. They set a “buy” rating and a $10.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $8.67.

Absci Stock Performance

Shares of NASDAQ ABSI opened at $2.94 on Friday. The stock has a market cap of $337.68 million, a PE ratio of -3.16 and a beta of 2.18. Absci Co. has a 1 year low of $1.35 and a 1 year high of $6.72. The firm has a fifty day moving average price of $3.75 and a 200-day moving average price of $3.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63.

Absci (NASDAQ:ABSI) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. The business had revenue of $1.70 million during the quarter, compared to analysts’ expectations of $1.77 million. During the same quarter in the previous year, the company posted ($0.24) EPS. Equities analysts anticipate that Absci Co. will post -0.9 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.