Absci Co. (NASDAQ:ABSI) Short Interest Up 11.4% in December

Absci Co. (NASDAQ:ABSI) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 14,020,000 shares, an increase of 11.4% from the November 30th total of 12,580,000 shares. Currently, 15.2% of the shares of the stock are sold short. Based on an average daily volume of 1,490,000 shares, the days-to-cover ratio is currently 9.4 days.

Institutional Investors Weigh In On Absci

Several large investors have recently modified their holdings of the company. FMR LLC raised its position in Absci by 1.2% during the 3rd quarter. FMR LLC now owns 12,727,760 shares of the company’s stock worth $48,620,000 after buying an additional 147,156 shares during the last quarter. Fred Alger Management LLC raised its position in Absci by 4.3% in the third quarter. Fred Alger Management LLC now owns 7,566,618 shares of the company’s stock worth $28,904,000 after acquiring an additional 309,843 shares in the last quarter. ARK Investment Management LLC lifted its holdings in Absci by 15.1% in the third quarter. ARK Investment Management LLC now owns 6,337,622 shares of the company’s stock valued at $24,210,000 after acquiring an additional 833,734 shares during the period. Geode Capital Management LLC lifted its stake in shares of Absci by 6.8% in the third quarter. Geode Capital Management LLC now owns 1,933,593 shares of the company’s stock valued at $7,388,000 after purchasing an additional 123,896 shares during the period. Finally, Marshall Wace LLP grew its position in Absci by 23.3% during the second quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock worth $5,648,000 after buying an additional 347,079 shares during the period. 52.05% of the stock is owned by institutional investors and hedge funds.

Absci Stock Down 4.3 %

Shares of NASDAQ ABSI traded down $0.12 during midday trading on Monday, hitting $2.65. The company’s stock had a trading volume of 342,684 shares, compared to its average volume of 1,429,730. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63. The firm has a market capitalization of $304.37 million, a price-to-earnings ratio of -2.85 and a beta of 2.02. The business’s fifty day simple moving average is $3.42 and its two-hundred day simple moving average is $3.73. Absci has a 1 year low of $2.45 and a 1 year high of $6.72.

Absci (NASDAQ:ABSI) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The firm had revenue of $1.70 million for the quarter, compared to analyst estimates of $1.77 million. Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. During the same quarter last year, the firm earned ($0.24) EPS. On average, equities analysts predict that Absci will post -0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ABSI shares. Guggenheim reissued a “buy” rating and issued a $10.00 price target on shares of Absci in a research note on Tuesday, December 3rd. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Absci in a report on Friday, December 13th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $8.67.

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.