Dimensional Fund Advisors LP Boosts Stock Holdings in Absci Co. (NASDAQ:ABSI)

Dimensional Fund Advisors LP grew its position in Absci Co. (NASDAQ:ABSI - Free Report) by 47.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 750,719 shares of the company's stock after purchasing an additional 241,779 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.65% of Absci worth $1,967,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alpha Cubed Investments LLC acquired a new stake in Absci during the 4th quarter worth $26,000. Ballentine Partners LLC acquired a new stake in Absci during the 4th quarter worth $27,000. Verdence Capital Advisors LLC acquired a new stake in Absci during the 4th quarter worth $37,000. Mariner LLC acquired a new stake in Absci during the 4th quarter worth $62,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in Absci during the 4th quarter worth $64,000. 52.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ABSI has been the topic of a number of recent research reports. KeyCorp lifted their price objective on shares of Absci from $5.00 to $9.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. Guggenheim restated a "buy" rating and issued a $10.00 price objective on shares of Absci in a research note on Thursday, March 20th. Needham & Company LLC restated a "buy" rating and issued a $9.00 price objective on shares of Absci in a research note on Wednesday, May 14th. Finally, HC Wainwright restated a "buy" rating and issued a $7.00 price objective on shares of Absci in a research note on Wednesday, March 19th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $8.40.

Absci Price Performance

ABSI stock traded down $0.04 during trading on Tuesday, reaching $2.74. 228,896 shares of the company were exchanged, compared to its average volume of 2,709,576. The company has a market cap of $348.84 million, a P/E ratio of -2.93 and a beta of 2.19. Absci Co. has a 52-week low of $2.01 and a 52-week high of $6.33. The stock's 50 day moving average price is $2.86 and its 200 day moving average price is $3.32. 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 (NASDAQ:ABSI - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.21) EPS for the quarter, topping analysts' consensus estimates of ($0.23) by $0.02. The firm had revenue of $1.18 million for the quarter, compared to the consensus estimate of $1.07 million. Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. As a group, analysts predict that Absci Co. will post -0.89 earnings per share for the current fiscal year.

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.