Absci Co. (NASDAQ:ABSI) Shares Bought by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Absci Co. (NASDAQ:ABSI) by 119.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,733 shares of the company’s stock after purchasing an additional 16,756 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Absci were worth $81,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Rhumbline Advisers increased its holdings in Absci by 4.2% in the 4th quarter. Rhumbline Advisers now owns 114,152 shares of the company’s stock worth $299,000 after buying an additional 4,593 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Absci by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 49,379 shares of the company’s stock valued at $189,000 after acquiring an additional 6,409 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Absci by 5.9% in the third quarter. Victory Capital Management Inc. now owns 150,562 shares of the company’s stock worth $575,000 after acquiring an additional 8,388 shares during the period. PCA Investment Advisory Services Inc. purchased a new position in shares of Absci during the fourth quarter worth $26,000. Finally, Alpha Cubed Investments LLC acquired a new position in Absci during the fourth quarter valued at $26,000. 52.05% of the stock is owned by institutional investors and hedge funds.

Absci Stock Down 3.9 %

Absci stock opened at $2.70 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63. The stock has a market capitalization of $343.80 million, a PE ratio of -2.90 and a beta of 2.09. The business has a 50 day simple moving average of $3.87 and a 200-day simple moving average of $3.63. Absci Co. has a 12 month low of $2.45 and a 12 month high of $6.72.

Absci (NASDAQ:ABSI) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. The company had revenue of $0.67 million for the quarter, compared to analyst estimates of $1.77 million. On average, analysts anticipate that Absci Co. will post -0.89 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on ABSI. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price target on shares of Absci in a research report on Wednesday, March 19th. KeyCorp dropped their target price on Absci from $6.00 to $5.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Absci in a report on Wednesday, March 19th. Finally, Guggenheim reaffirmed a “buy” rating and set a $10.00 price objective on shares of Absci in a research note on Thursday, March 20th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $7.60.

Absci 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.