Millennium Management LLC Sells 1,149,603 Shares of Absci Co. (NASDAQ:ABSI)

Millennium Management LLC decreased its holdings in shares of Absci Co. (NASDAQ:ABSI - Free Report) by 97.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,226 shares of the company's stock after selling 1,149,603 shares during the quarter. Millennium Management LLC's holdings in Absci were worth $66,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABSI. Sumitomo Mitsui Trust Group Inc. raised its position in shares of 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 in the last quarter. ARK Investment Management LLC raised its stake in Absci by 30.4% in the 4th quarter. ARK Investment Management LLC now owns 8,265,936 shares of the company's stock worth $21,657,000 after acquiring an additional 1,928,314 shares during the last quarter. Nikko Asset Management Americas Inc. raised its stake in Absci by 28.5% in the 4th quarter. Nikko Asset Management Americas 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. Raymond James Financial Inc. purchased a new position in shares of Absci during the 4th quarter valued at about $508,000. Finally, Platinum Investment Management Ltd. raised its stake in shares of Absci by 20.5% during the 4th quarter. Platinum Investment Management Ltd. now owns 551,188 shares of the company's stock valued at $1,444,000 after buying an additional 93,785 shares during the last quarter. Institutional investors own 52.05% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ABSI shares. KeyCorp lifted their price target on Absci from $5.00 to $9.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. HC Wainwright reiterated a "buy" rating and issued a $7.00 price objective on shares of Absci in a report on Wednesday, March 19th. Guggenheim reiterated a "buy" rating and issued a $10.00 price objective on shares of Absci in a report on Thursday, March 20th. Wall Street Zen lowered Absci from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $9.00 price objective on shares of Absci in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $8.40.

Absci Stock Down 2.1%

ABSI stock opened at $2.78 on Friday. The stock has a market capitalization of $354.61 million, a P/E ratio of -2.99 and a beta of 2.06. 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 one year low of $2.01 and a one year high of $6.33. The company has a 50 day moving average price of $2.88 and a two-hundred day moving average price of $3.25.

Absci (NASDAQ:ABSI - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.21) earnings per share for the quarter, beating analysts' consensus estimates of ($0.23) by $0.02. The company had revenue of $1.18 million for the quarter, compared to analyst estimates 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, sell-side analysts expect that Absci Co. will post -0.89 EPS for the current 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.

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