Absci Co. (NASDAQ:ABSI) Shares Bought by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. grew its holdings in shares of Absci Co. (NASDAQ:ABSI) by 20.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 551,188 shares of the company’s stock after purchasing an additional 93,785 shares during the quarter. Platinum Investment Management Ltd. owned approximately 0.48% of Absci worth $1,444,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABSI. ARK Investment Management LLC boosted its stake in Absci by 30.4% during the 4th quarter. ARK Investment Management LLC now owns 8,265,936 shares of the company’s stock worth $21,657,000 after purchasing an additional 1,928,314 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Absci by 472.1% during the 4th quarter. Royce & Associates LP now owns 882,096 shares of the company’s stock worth $2,311,000 after acquiring an additional 727,905 shares during the period. Fred Alger Management LLC raised its holdings in shares of Absci by 4.3% during the 3rd 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 during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Absci by 28.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,829 shares of the company’s stock worth $2,997,000 after acquiring an additional 253,985 shares during the period. Finally, Nikko Asset Management Americas Inc. raised its holdings in shares of Absci by 28.5% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 1,143,829 shares of the company’s stock worth $2,997,000 after acquiring an additional 253,985 shares during the period. Institutional investors and hedge funds own 52.05% of the company’s stock.

Absci Price Performance

Absci stock opened at $3.08 on Wednesday. Absci Co. has a 12 month low of $2.45 and a 12 month high of $6.72. 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 business has a 50 day simple moving average of $3.87 and a 200-day simple moving average of $3.68. The stock has a market capitalization of $353.76 million, a PE ratio of -3.31 and a beta of 2.09.

Absci (NASDAQ:ABSI) last released its quarterly earnings results on Tuesday, March 18th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. The company had revenue of $0.67 million for the quarter, compared to analysts’ expectations of $1.77 million. Equities analysts predict that Absci Co. will post -0.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

ABSI has been the topic of several analyst reports. KeyCorp reduced their price target on Absci from $6.00 to $5.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Guggenheim reiterated a “buy” rating and set a $10.00 price target on shares of Absci in a report on Tuesday, December 3rd. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Absci in a report on Friday, January 17th. Finally, Needham & Company LLC initiated coverage on shares of Absci in a report on Wednesday, January 22nd. They issued a “buy” rating and a $9.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Absci has a consensus rating of “Buy” and a consensus price target of $8.57.

About Absci

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.