Absci Co. (NASDAQ:ABSI) Short Interest Update

Absci Co. (NASDAQ:ABSI) saw a significant growth in short interest in September. As of September 15th, there was short interest totalling 13,070,000 shares, a growth of 8.2% from the August 31st total of 12,080,000 shares. Based on an average daily volume of 1,430,000 shares, the days-to-cover ratio is currently 9.1 days. Currently, 14.3% of the shares of the stock are sold short.

Absci Stock Performance

NASDAQ:ABSI opened at $3.62 on Wednesday. The business has a 50 day moving average of $4.05 and a 200 day moving average of $4.35. The company has a market capitalization of $409.36 million, a price-to-earnings ratio of -3.12 and a beta of 2.21. Absci has a 1-year low of $1.11 and a 1-year high of $6.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.49 and a quick ratio of 6.49.

Absci (NASDAQ:ABSI) last released its earnings results on Wednesday, August 14th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). The firm had revenue of $1.27 million during the quarter, compared to the consensus estimate of $2.05 million. Absci had a negative return on equity of 44.24% and a negative net margin of 2,838.89%. During the same quarter in the previous year, the firm earned ($0.27) EPS. On average, sell-side analysts predict that Absci will post -0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. KeyCorp cut their price objective on Absci from $8.00 to $6.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Morgan Stanley assumed coverage on Absci in a report on Wednesday, July 3rd. They set an “overweight” rating and a $7.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Absci in a report on Thursday, August 15th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $8.40.

Institutional Trading of Absci

A number of hedge funds have recently bought and sold shares of ABSI. Hsbc Holdings PLC lifted its position in Absci by 153.8% in the 4th quarter. Hsbc Holdings PLC now owns 407,579 shares of the company’s stock worth $1,769,000 after buying an additional 247,019 shares during the last quarter. Salem Investment Counselors Inc. bought a new stake in Absci in the first quarter valued at approximately $122,000. Cannon Global Investment Management LLC bought a new stake in Absci in the first quarter valued at approximately $104,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Absci in the first quarter valued at approximately $2,390,000. Finally, Capstone Investment Advisors LLC bought a new stake in Absci in the first quarter valued at approximately $1,477,000. Institutional investors own 52.05% of the company’s stock.

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.