Absci Co. (NASDAQ:ABSI) Stock Position Lifted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in shares of Absci Co. (NASDAQ:ABSI) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 697,849 shares of the company’s stock after buying an additional 11,602 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Absci were worth $2,666,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Comerica Bank acquired a new stake in Absci in the 1st quarter valued at approximately $31,000. Brookstone Capital Management acquired a new stake in Absci in the 2nd quarter valued at approximately $110,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in Absci by 73.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 731,758 shares of the company’s stock valued at $2,254,000 after acquiring an additional 310,946 shares during the period. Institute for Wealth Management LLC. boosted its stake in Absci by 110.3% during the 2nd quarter. Institute for Wealth Management LLC. now owns 510,902 shares of the company’s stock valued at $1,574,000 after purchasing an additional 268,019 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Absci by 521.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 285,764 shares of the company’s stock valued at $880,000 after purchasing an additional 239,747 shares in the last quarter. Institutional investors own 52.05% of the company’s stock.

Absci Trading Up 0.3 %

NASDAQ:ABSI opened at $3.69 on Monday. The company has a market capitalization of $423.82 million, a P/E ratio of -3.97 and a beta of 2.02. 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 stock’s 50 day moving average price is $3.60 and its 200 day moving average price is $3.81. Absci Co. has a 52 week low of $2.45 and a 52 week high of $6.72.

Absci (NASDAQ:ABSI) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.05). Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. The business had revenue of $1.70 million during the quarter, compared to the consensus estimate of $1.77 million. During the same period in the prior year, the company posted ($0.24) earnings per share. On average, research analysts forecast that Absci Co. will post -0.9 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on ABSI shares. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Absci in a research note on Friday. Guggenheim reaffirmed a “buy” rating and set a $10.00 price target on shares of Absci in a research note on Tuesday, December 3rd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $8.67.

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.