Dimensional Fund Advisors LP Acquires 58,556 Shares of Absci Co. (NASDAQ:ABSI)

Dimensional Fund Advisors LP lifted its holdings in Absci Co. (NASDAQ:ABSI) by 88.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 125,089 shares of the company’s stock after buying an additional 58,556 shares during the period. Dimensional Fund Advisors LP’s holdings in Absci were worth $385,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ABSI. Comerica Bank acquired a new position in Absci during the 1st quarter valued at about $31,000. SG Americas Securities LLC bought a new stake in shares of Absci in the 1st quarter worth approximately $63,000. Avantax Advisory Services Inc. bought a new stake in shares of Absci in the 1st quarter worth approximately $71,000. Cannon Global Investment Management LLC bought a new stake in shares of Absci in the 1st quarter worth approximately $104,000. Finally, Brookstone Capital Management bought a new stake in shares of Absci in the 2nd quarter worth approximately $110,000. 52.05% of the stock is currently owned by institutional investors and hedge funds.

Absci Stock Up 0.7 %

ABSI opened at $4.10 on Tuesday. The business’s fifty day simple moving average is $3.99 and its 200 day simple moving average is $4.27. Absci Co. has a 52 week low of $1.11 and a 52 week high of $6.72. The stock has a market cap of $463.64 million, a PE ratio of -3.53 and a beta of 2.19. The company has a quick ratio of 6.49, a current ratio of 6.49 and a debt-to-equity ratio of 0.01.

Absci (NASDAQ:ABSI) last posted its earnings results on Wednesday, August 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.03). The business had revenue of $1.27 million during the quarter, compared to the consensus estimate of $2.05 million. Absci had a negative return on equity of 44.24% and a negative net margin of 2,838.89%. During the same period in the previous year, the business earned ($0.27) earnings per share. As a group, research analysts expect that Absci Co. will post -0.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ABSI. KeyCorp lowered their target price on shares of Absci from $8.00 to $6.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Guggenheim began coverage on shares of Absci in a report on Wednesday, October 2nd. They set a “buy” rating and a $10.00 target price on the stock. Morgan Stanley began coverage on shares of Absci in a report on Wednesday, July 3rd. They set an “overweight” rating and a $7.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Absci in a report on Thursday, August 15th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Absci presently has a consensus rating of “Buy” and a consensus target price of $8.67.

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.