Raymond James Financial Inc. Buys New Shares in Absci Co. (NASDAQ:ABSI)

Raymond James Financial Inc. acquired a new stake in Absci Co. (NASDAQ:ABSI - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 193,926 shares of the company's stock, valued at approximately $508,000. Raymond James Financial Inc. owned approximately 0.17% of Absci at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Absci by 1.1% in the fourth quarter. Wellington Management Group LLP now owns 352,805 shares of the company's stock worth $924,000 after acquiring an additional 3,951 shares in the last quarter. Rhumbline Advisers boosted its stake 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 purchasing an additional 4,593 shares during the period. Invesco Ltd. boosted its position in Absci by 15.1% during the 4th quarter. Invesco Ltd. now owns 43,535 shares of the company's stock worth $114,000 after acquiring an additional 5,719 shares during the period. JPMorgan Chase & Co. increased 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 purchasing an additional 6,409 shares during the period. Finally, PCA Investment Advisory Services Inc. acquired a new stake in shares of Absci during the fourth quarter worth approximately $26,000. Institutional investors own 52.05% of the company's stock.

Absci Stock Down 1.8 %

ABSI stock traded down $0.05 during midday trading on Friday, hitting $2.75. The company's stock had a trading volume of 2,105,936 shares, compared to its average volume of 2,632,590. The stock has a market capitalization of $350.76 million, a P/E ratio of -2.96 and a beta of 2.19. The company's fifty day moving average price is $2.89 and its 200 day moving average price is $3.37. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63. Absci Co. has a twelve month low of $2.01 and a twelve month high of $6.33.

Absci (NASDAQ:ABSI - Get Free Report) last issued its earnings results on Tuesday, March 18th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The firm had revenue of $0.67 million during the quarter, compared to analyst estimates of $1.77 million. Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. As a group, equities research analysts predict that Absci Co. will post -0.89 EPS for the current year.

Wall Street Analyst Weigh In

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

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.