Marshall Wace LLP Reduces Stock Position in Absci Co. (NASDAQ:ABSI)

Marshall Wace LLP lowered its position in shares of Absci Co. (NASDAQ:ABSI - Free Report) by 11.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,151,846 shares of the company's stock after selling 152,915 shares during the period. Marshall Wace LLP owned 1.00% of Absci worth $3,018,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. ARK Investment Management LLC grew its position in shares of Absci by 30.4% during the 4th quarter. ARK Investment Management LLC now owns 8,265,936 shares of the company's stock valued at $21,657,000 after purchasing an additional 1,928,314 shares in the last quarter. Geode Capital Management LLC boosted its stake in Absci by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 1,949,810 shares of the company's stock valued at $5,110,000 after buying an additional 16,217 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Absci by 28.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,829 shares of the company's stock worth $2,997,000 after acquiring an additional 253,985 shares during the last quarter. Nikko Asset Management Americas Inc. raised its holdings in shares of Absci by 28.5% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 1,143,829 shares of the company's stock valued at $2,997,000 after acquiring an additional 253,985 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in shares of Absci by 472.1% in the 4th quarter. Royce & Associates LP now owns 882,096 shares of the company's stock valued at $2,311,000 after acquiring an additional 727,905 shares in the last quarter. Institutional investors own 52.05% of the company's stock.

Absci Trading Up 2.5 %

NASDAQ:ABSI traded up $0.08 during trading hours on Friday, reaching $3.11. The company's stock had a trading volume of 621,655 shares, compared to its average volume of 2,577,066. The firm has a 50-day simple moving average of $3.01 and a 200-day simple moving average of $3.43. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63. Absci Co. has a 1 year low of $2.01 and a 1 year high of $6.33. The firm has a market capitalization of $395.43 million, a price-to-earnings ratio of -3.34 and a beta of 2.22.

Absci (NASDAQ:ABSI - Get Free Report) last released its earnings results 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 net margin of 2,321.56% and a negative return on equity of 46.56%. The company had revenue of $0.67 million during the quarter, compared to the consensus estimate of $1.77 million. Research analysts expect that Absci Co. will post -0.89 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $9.00 target price on shares of Absci in a research note on Wednesday, April 9th. KeyCorp raised their price objective on shares of Absci from $5.00 to $9.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. HC Wainwright reiterated a "buy" rating and issued a $7.00 target price on shares of Absci in a research report on Wednesday, March 19th. Finally, Guggenheim restated a "buy" rating and set a $10.00 price target on shares of Absci in a research report on Thursday, March 20th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Absci has a consensus rating of "Buy" and a consensus price target of $8.40.

Absci Company 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.