Alpha Cubed Investments LLC Invests $26,000 in Absci Co. (NASDAQ:ABSI)

Alpha Cubed Investments LLC acquired a new stake in Absci Co. (NASDAQ:ABSI) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $26,000.

A number of other hedge funds also recently added to or reduced their stakes in ABSI. PCA Investment Advisory Services Inc. bought a new stake in shares of Absci in the 4th quarter valued at about $26,000. Ballentine Partners LLC purchased a new position in Absci during the fourth quarter valued at approximately $27,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Absci in the third quarter worth approximately $53,000. Farther Finance Advisors LLC raised its stake in Absci by 119.5% in the third quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock worth $72,000 after buying an additional 10,275 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Absci during the third quarter worth $86,000. 52.05% of the stock is owned by hedge funds and other institutional investors.

Absci Stock Up 11.0 %

Shares of ABSI stock opened at $3.22 on Wednesday. The stock’s fifty day moving average price is $3.03 and its 200 day moving average price is $3.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63. Absci Co. has a 1-year low of $2.45 and a 1-year high of $6.72. The company has a market cap of $369.85 million, a price-to-earnings ratio of -3.46 and a beta of 2.04.

Absci (NASDAQ:ABSI) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The company had revenue of $1.70 million for the quarter, compared to analyst estimates of $1.77 million. Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. During the same quarter last year, the company earned ($0.24) EPS. On average, research analysts expect that Absci Co. will post -0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on ABSI shares. Guggenheim reissued a “buy” rating and issued a $10.00 price target on shares of Absci in a research report on Tuesday, December 3rd. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Absci in a report on Friday, January 17th. Finally, KeyCorp decreased their price target on shares of Absci from $6.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Absci presently has a consensus rating of “Buy” and an average target price of $8.50.

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.