Absci Co. (NASDAQ:ABSI) Sees Large Increase in Short Interest

Absci Co. (NASDAQ:ABSI) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 14,020,000 shares, a growth of 11.4% from the November 30th total of 12,580,000 shares. Approximately 15.2% of the shares of the stock are sold short. Based on an average daily volume of 1,490,000 shares, the short-interest ratio is presently 9.4 days.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ABSI shares. Guggenheim reaffirmed a “buy” rating and set a $10.00 price objective on shares of Absci in a research note on Tuesday, December 3rd. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Absci in a research report on Friday, December 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $8.67.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its position in Absci by 521.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 285,764 shares of the company’s stock valued at $880,000 after purchasing an additional 239,747 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in shares of Absci in the 2nd quarter worth approximately $388,000. Rhumbline Advisers raised its position in Absci by 3,910.6% in the second quarter. Rhumbline Advisers now owns 107,324 shares of the company’s stock worth $331,000 after acquiring an additional 104,648 shares in the last quarter. Pier 88 Investment Partners LLC boosted its position in shares of Absci by 240.2% during the 2nd quarter. Pier 88 Investment Partners LLC now owns 148,220 shares of the company’s stock valued at $457,000 after purchasing an additional 104,650 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Absci by 32.3% in the 2nd quarter. American Century Companies Inc. now owns 121,800 shares of the company’s stock worth $375,000 after purchasing an additional 29,723 shares during the last quarter. 52.05% of the stock is currently owned by institutional investors.

Absci Stock Performance

Shares of ABSI traded down $0.12 during mid-day trading on Monday, hitting $2.65. The stock had a trading volume of 342,684 shares, compared to its average volume of 1,429,730. Absci has a fifty-two week low of $2.45 and a fifty-two week high of $6.72. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.01. The company has a market cap of $304.37 million, a PE ratio of -2.85 and a beta of 2.02. The company’s fifty day simple moving average is $3.42 and its two-hundred day simple moving average is $3.73.

Absci (NASDAQ:ABSI) last issued its earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). The business had revenue of $1.70 million during the quarter, compared to the consensus estimate of $1.77 million. Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. During the same period in the prior year, the business earned ($0.24) EPS. On average, equities analysts expect that Absci will post -0.9 earnings per share for the current year.

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.