Daily Stock Market News

Absci Corp (NASDAQ:ABSI) Sees Large Increase in Short Interest

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.


This Emerging Biotech Company is Working to Create Shareholder Value!

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.

Featured Article: Penny Stocks, What You Need To Know

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in Absci right now?

Before you consider Absci, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Absci wasn’t on the list.

While Absci currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here


Read More: Absci Corp (NASDAQ:ABSI) Sees Large Increase in Short Interest

You might also like
A note to our visitors

This website has updated its privacy policy in compliance with changes to European Union data protection law, for all members globally. We’ve also updated our Privacy Policy to give you more information about your rights and responsibilities with respect to your privacy and personal information. Please read this to review the updates about which cookies we use and what information we collect on our site. By continuing to use this site, you are agreeing to our updated privacy policy.