Absci Sees Unusually Large Options Volume (NASDAQ:ABSI)

Absci Co. (NASDAQ:ABSI) was the recipient of some unusual options trading on Tuesday. Stock investors purchased 4,017 call options on the company. This represents an increase of approximately 270% compared to the average daily volume of 1,085 call options.

Absci Price Performance

Shares of ABSI stock opened at $4.99 on Thursday. The stock has a market cap of $573.15 million, a price-to-earnings ratio of -5.37 and a beta of 2.11. The business’s fifty day moving average is $3.46 and its 200 day moving average is $3.70. Absci has a twelve month low of $2.45 and a twelve month high of $6.72. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.01.

Absci (NASDAQ:ABSI) last released its earnings results on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). The company had revenue of $1.70 million during the quarter, compared to analysts’ expectations of $1.77 million. Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. During the same period in the prior year, the company posted ($0.24) earnings per share. Research analysts expect that Absci will post -0.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in Absci by 88.0% in the second quarter. Dimensional Fund Advisors LP now owns 125,089 shares of the company’s stock valued at $385,000 after acquiring an additional 58,556 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in Absci in the second quarter worth about $100,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Absci in the third quarter worth about $53,000. Cherry Creek Investment Advisors Inc. purchased a new stake in Absci in the third quarter worth about $149,000. Finally, Farther Finance Advisors LLC increased its position 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. 52.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ABSI has been the subject of a number of recent research reports. Needham & Company LLC began coverage on Absci in a research report on Wednesday, January 22nd. They issued a “buy” rating and a $9.00 target price for the company. KeyCorp lowered their price objective on Absci from $6.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Guggenheim reiterated a “buy” rating and issued a $10.00 price objective on shares of Absci in a research report on Tuesday, December 3rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Absci in a research report on Friday, January 17th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently 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.