Absci Co. (NASDAQ:ABSI) Short Interest Update

Absci Co. (NASDAQ:ABSI) was the target of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 8,630,000 shares, a decline of 17.7% from the March 31st total of 10,480,000 shares. Based on an average trading volume of 1,550,000 shares, the days-to-cover ratio is currently 5.6 days. Currently, 10.0% of the shares of the stock are sold short.

Analyst Ratings Changes

ABSI has been the topic of several analyst reports. KeyCorp increased their price objective on shares of Absci from $5.00 to $8.00 and gave the company an “overweight” rating in a report on Monday, March 4th. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Absci in a report on Friday, March 22nd. Truist Financial restated a “buy” rating and issued a $9.00 price objective on shares of Absci in a report on Tuesday, March 26th. Finally, Scotiabank restated an “outperform” rating and issued a $13.00 price objective on shares of Absci in a report on Monday, March 25th.

Absci Trading Up 4.4 %

ABSI opened at $4.78 on Tuesday. Absci has a twelve month low of $1.11 and a twelve month high of $6.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.08 and a current ratio of 4.08. The firm’s fifty day moving average is $5.16 and its two-hundred day moving average is $3.62. The firm has a market cap of $540.52 million, a PE ratio of -3.98 and a beta of 2.36.

Absci (NASDAQ:ABSI) last announced its quarterly earnings data on Thursday, March 21st. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). The firm had revenue of $0.34 million during the quarter, compared to the consensus estimate of $1.75 million. Absci had a negative net margin of 1,933.65% and a negative return on equity of 44.52%. Equities research analysts anticipate that Absci will post -0.76 EPS for the current year.

Insider Activity at Absci

In other news, Director Redmile Group, Llc acquired 222,222 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were purchased at an average cost of $4.50 per share, with a total value of $999,999.00. Following the completion of the purchase, the director now owns 8,253,316 shares of the company’s stock, valued at $37,139,922. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 11.58% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Absci

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimension Capital Management LLC bought a new stake in shares of Absci during the 3rd quarter valued at approximately $28,000. Clarius Group LLC bought a new stake in shares of Absci during the 3rd quarter valued at approximately $40,000. Nations Financial Group Inc. IA ADV bought a new stake in Absci during the 4th quarter worth approximately $42,000. Beacon Pointe Advisors LLC bought a new stake in Absci during the 4th quarter worth approximately $42,000. Finally, Jump Financial LLC bought a new stake in Absci during the 4th quarter worth approximately $67,000. 52.05% of the stock is currently owned by institutional investors and hedge funds.

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.