King Luther Capital Management Corp Buys New Position in Absci Co. (NASDAQ:ABSI)

King Luther Capital Management Corp purchased a new position in shares of Absci Co. (NASDAQ:ABSI) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 77,520 shares of the company’s stock, valued at approximately $296,000. King Luther Capital Management Corp owned approximately 0.07% of Absci at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Comerica Bank purchased a new position in shares of Absci during the 1st quarter worth $31,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Absci in the 3rd quarter valued at about $53,000. SG Americas Securities LLC acquired a new position in shares of Absci during the 1st quarter valued at about $63,000. Farther Finance Advisors LLC lifted its holdings in shares of Absci by 119.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock worth $72,000 after acquiring an additional 10,275 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Absci in the second quarter worth approximately $100,000. Institutional investors and hedge funds own 52.05% of the company’s stock.

Absci Stock Performance

NASDAQ:ABSI opened at $2.56 on Friday. The firm’s fifty day simple moving average is $3.81 and its 200 day simple moving average is $3.97. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.01. Absci Co. has a twelve month low of $1.35 and a twelve month high of $6.72. The firm has a market capitalization of $294.04 million, a price-to-earnings ratio of -2.75 and a beta of 2.18.

Absci (NASDAQ:ABSI) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.24) 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 company had revenue of $1.70 million for the quarter, compared to analyst estimates of $1.77 million. During the same quarter in the prior year, the firm earned ($0.24) EPS. As a group, equities research analysts expect that Absci Co. will post -0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ABSI has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Absci in a report on Wednesday, November 13th. Guggenheim assumed coverage on Absci in a report on Wednesday, October 2nd. They issued a “buy” rating and a $10.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Absci has a consensus rating of “Buy” and an average price target 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.