Two Sigma Investments LP Purchases 443,410 Shares of Absci Co. (NASDAQ:ABSI)

Two Sigma Investments LP grew its position in Absci Co. (NASDAQ:ABSI - Free Report) by 97.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 899,648 shares of the company's stock after purchasing an additional 443,410 shares during the period. Two Sigma Investments LP owned approximately 0.78% of Absci worth $2,357,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of ABSI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Absci by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,800 shares of the company's stock valued at $120,000 after purchasing an additional 1,976 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Absci by 14.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,333 shares of the company's stock worth $77,000 after purchasing an additional 3,747 shares during the period. Wellington Management Group LLP increased its position in Absci by 1.1% during the fourth quarter. Wellington Management Group LLP now owns 352,805 shares of the company's stock worth $924,000 after buying an additional 3,951 shares during the last quarter. Rhumbline Advisers raised its stake in Absci by 4.2% in the fourth quarter. Rhumbline Advisers now owns 114,152 shares of the company's stock valued at $299,000 after buying an additional 4,593 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Absci by 15.1% in the fourth quarter. Invesco Ltd. now owns 43,535 shares of the company's stock valued at $114,000 after buying an additional 5,719 shares during the last quarter. 52.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Absci Stock Performance

Shares of ABSI traded up $0.07 during midday trading on Wednesday, reaching $2.85. 2,676,443 shares of the stock were exchanged, compared to its average volume of 2,761,432. The stock's 50 day simple moving average is $2.80 and its 200 day simple moving average is $3.24. The company has a market cap of $363.54 million, a P/E ratio of -3.06 and a beta of 2.19. Absci Co. has a twelve month low of $2.01 and a twelve month high of $6.33. 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 - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.21) EPS for the quarter, topping analysts' consensus estimates of ($0.23) by $0.02. The business 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%. On average, sell-side analysts expect that Absci Co. will post -0.89 earnings per share for the current year.

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.