Schonfeld Strategic Advisors LLC Has $144,000 Stake in Absci Co. (NASDAQ:ABSI)

Schonfeld Strategic Advisors LLC decreased its position in Absci Co. (NASDAQ:ABSI - Free Report) by 82.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 quarter.

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

Absci Price Performance

Shares of ABSI stock traded down $0.06 during trading hours on Tuesday, hitting $2.72. The company's stock had a trading volume of 365,368 shares, compared to its average volume of 2,709,637. Absci Co. has a twelve month low of $2.01 and a twelve month high of $6.33. The business has a fifty day moving average of $2.86 and a 200-day moving average of $3.32. The stock has a market cap of $346.29 million, a price-to-earnings ratio of -2.94 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 posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.07 million. As a group, equities research analysts anticipate that Absci Co. will post -0.89 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. HC Wainwright restated a "buy" rating and issued a $7.00 price target on shares of Absci in a research report on Wednesday, March 19th. Needham & Company LLC restated a "buy" rating and issued a $9.00 target price on shares of Absci in a research note on Wednesday, May 14th. Guggenheim reissued a "buy" rating and issued a $10.00 target price on shares of Absci in a research report on Thursday, March 20th. Finally, KeyCorp lifted their target price on Absci from $5.00 to $9.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus 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.