Geode Capital Management LLC Has $7.39 Million Position in Absci Co. (NASDAQ:ABSI)

Geode Capital Management LLC raised its holdings in Absci Co. (NASDAQ:ABSI) by 6.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,933,593 shares of the company’s stock after buying an additional 123,896 shares during the quarter. Geode Capital Management LLC’s holdings in Absci were worth $7,388,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ABSI. Marshall Wace LLP increased 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 acquiring an additional 347,079 shares during the period. Bank of Montreal Can bought a new position in shares of Absci during the 2nd quarter worth about $527,000. Squarepoint Ops LLC raised its position in shares of Absci by 72.4% during the second quarter. Squarepoint Ops LLC now owns 369,187 shares of the company’s stock valued at $1,137,000 after buying an additional 155,007 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Absci by 521.0% during the second quarter. Bank of New York Mellon Corp now owns 285,764 shares of the company’s stock valued at $880,000 after buying an additional 239,747 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Absci by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 697,849 shares of the company’s stock valued at $2,666,000 after buying an additional 11,602 shares during the period. 52.05% of the stock is currently owned by institutional investors and hedge funds.

Absci Stock Up 3.4 %

Shares of ABSI opened at $2.71 on Friday. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $3.30 and a two-hundred day moving average price of $3.68. The stock has a market cap of $311.26 million, a price-to-earnings ratio of -2.91 and a beta of 2.02. Absci Co. has a 12 month low of $2.45 and a 12 month high of $6.72.

Absci (NASDAQ:ABSI) last posted its 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). Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. The company had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.77 million. During the same quarter last year, the business earned ($0.24) EPS. Equities analysts predict that Absci Co. will post -0.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Absci in a research note on Friday, December 13th. Guggenheim restated a “buy” rating and set a $10.00 price objective on shares of Absci in a research report on Tuesday, December 3rd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus 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.