Schonfeld Strategic Advisors LLC Lowers Stake in Absci Co. (NASDAQ:ABSI)

Schonfeld Strategic Advisors LLC lowered its stake in shares of Absci Co. (NASDAQ:ABSI - Free Report) by 82.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 54,900 shares of the company's stock after selling 255,126 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Absci were worth $144,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ABSI. Alpha Cubed Investments LLC purchased a new position in Absci in the 4th quarter valued at approximately $26,000. Ballentine Partners LLC purchased a new position in Absci in the 4th quarter valued at approximately $27,000. Verdence Capital Advisors LLC purchased a new position in Absci in the 4th quarter valued at approximately $37,000. Mariner LLC purchased a new position in Absci in the 4th quarter valued at approximately $62,000. Finally, China Universal Asset Management Co. Ltd. purchased a new position in Absci in the 4th quarter valued at approximately $64,000. Hedge funds and other institutional investors own 52.05% of the company's stock.

Absci Price Performance

Shares of ABSI opened at $2.91 on Thursday. Absci Co. has a twelve month low of $2.01 and a twelve month high of $6.33. The firm's fifty day simple moving average is $2.87 and its 200-day simple moving average is $3.35. The firm has a market capitalization of $371.16 million, a price-to-earnings ratio of -3.13 and a beta of 2.19. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.01.

Absci (NASDAQ:ABSI - Get Free Report) last announced its quarterly earnings data 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. Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. The business had revenue of $1.18 million for the quarter, compared to analyst estimates of $1.07 million. Equities analysts forecast that Absci Co. will post -0.89 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Needham & Company LLC reissued a "buy" rating and issued a $9.00 price target on shares of Absci in a research report on Wednesday. HC Wainwright reissued a "buy" rating and issued a $7.00 price target on shares of Absci in a research report on Wednesday, March 19th. KeyCorp raised their price target 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. Finally, Guggenheim reissued a "buy" rating and issued a $10.00 price target on shares of Absci in a research report on Thursday, March 20th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $8.40.

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.

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