Absci Corp (NASDAQ:ABSI) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 5,620,000 shares, a growth of 61.0% from the December 31st total of 3,490,000 shares. Currently, 9.7% of the shares of the stock are short sold. Based on an average trading volume of 1,140,000 shares, the days-to-cover ratio is currently 4.9 days.
ABSI has been the subject of several analyst reports. Bank of America downgraded Absci from a “neutral” rating to an “underperform” rating and cut their price target for the company from $17.00 to $10.00 in a report on Wednesday, November 10th. Zacks Investment Research downgraded Absci from a “hold” rating to a “sell” rating in a report on Monday, January 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $23.80.
NASDAQ:ABSI opened at $6.26 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.94 and a quick ratio of 9.94. The firm has a 50-day moving average price of $8.66. Absci has a 1-year low of $5.63 and a 1-year high of $31.53.
Absci (NASDAQ:ABSI) last posted its quarterly earnings data on Monday, November 8th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.15). Absci had a negative net margin of 1,332.67% and a negative return on equity of 258.68%. The firm had revenue of $1.54 million during the quarter, compared to analysts’ expectations of $2.18 million. As a group, sell-side analysts expect that Absci will post -0.23 earnings per share for the current fiscal year.
In other news, insider Sean Mcclain purchased 7,155 shares of the firm’s stock in a transaction dated Wednesday, January 19th. The shares were acquired at an average price of $6.92 per share, with a total value of $49,512.60. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
Hedge funds have recently modified their holdings of the company. Sands Capital Ventures LLC bought a new position in Absci in the third quarter worth about $672,000. Strs Ohio acquired a new stake in shares of Absci in the third quarter valued at approximately $37,000. M&T Bank Corp acquired a new stake in shares of Absci in the third quarter valued at approximately $139,000. BlackRock Inc. acquired a new stake in shares of Absci in the third quarter valued at approximately $7,345,000. Finally, Laurion Capital Management LP acquired a new position in shares of Absci during the third quarter valued at approximately $1,163,000. 38.15% of the stock is currently owned by institutional investors and hedge funds.
Absci Company Profile
Absci Corporation is the AI-powered synthetic biology company unlocking the potential of proteins as the next generation of therapeutics. The company’s Creation(TM) Platform involved in discovery of novel biotherapeutic drug candidates and generation of the cell lines to manufacture them in a single efficient process.
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