Absci Co. (NASDAQ:ABSI) Short Interest Update

Absci Co. (NASDAQ:ABSI) was the target of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 10,870,000 shares, a decrease of 10.0% from the July 15th total of 12,080,000 shares. Currently, 11.9% of the shares of the company are sold short. Based on an average daily volume of 1,550,000 shares, the short-interest ratio is presently 7.0 days.

Insider Buying and Selling at Absci

In other news, CFO Zachariah Jonasson sold 19,859 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $4.98, for a total transaction of $98,897.82. Following the transaction, the chief financial officer now owns 384,751 shares of the company’s stock, valued at approximately $1,916,059.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Absci news, major shareholder Phoenix Venture Partners Ii Lp sold 3,100,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $4.40, for a total value of $13,640,000.00. Following the completion of the transaction, the insider now directly owns 11,279,522 shares of the company’s stock, valued at approximately $49,629,896.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Zachariah Jonasson sold 19,859 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $4.98, for a total transaction of $98,897.82. Following the completion of the transaction, the chief financial officer now directly owns 384,751 shares in the company, valued at approximately $1,916,059.98. The disclosure for this sale can be found here. 9.81% of the stock is owned by corporate insiders.

Institutional Trading of Absci

Several large investors have recently modified their holdings of ABSI. Comerica Bank purchased a new stake in Absci in the 1st quarter worth approximately $31,000. Nations Financial Group Inc. IA ADV bought a new stake in Absci in the fourth quarter valued at $42,000. Beacon Pointe Advisors LLC purchased a new position in Absci during the 4th quarter valued at $42,000. SG Americas Securities LLC bought a new position in Absci in the 1st quarter worth $63,000. Finally, Jump Financial LLC purchased a new stake in shares of Absci in the 4th quarter worth about $67,000. 52.05% of the stock is owned by institutional investors.

Absci Trading Down 3.1 %

Shares of ABSI stock opened at $4.01 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.19 and a quick ratio of 7.19. The business has a 50-day moving average of $3.78 and a 200 day moving average of $4.51. The stock has a market capitalization of $453.47 million, a PE ratio of -3.46 and a beta of 2.21. Absci has a 1-year low of $1.11 and a 1-year high of $6.72.

Absci (NASDAQ:ABSI) last issued its earnings results on Wednesday, August 14th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.03). The firm had revenue of $1.27 million during the quarter, compared to analysts’ expectations of $2.05 million. Absci had a negative return on equity of 44.60% and a negative net margin of 2,042.01%. During the same period in the previous year, the firm earned ($0.27) earnings per share. As a group, sell-side analysts anticipate that Absci will post -0.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ABSI has been the topic of several recent analyst reports. KeyCorp lowered their price target on Absci from $8.00 to $6.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Morgan Stanley assumed coverage on shares of Absci in a research note on Wednesday, July 3rd. They issued an “overweight” rating and a $7.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of Absci in a research report on Thursday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $8.40.

Absci Company 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.