46,622 Shares in Absci Co. (NASDAQ:ABSI) Purchased by Franklin Resources Inc.

Franklin Resources Inc. purchased a new stake in Absci Co. (NASDAQ:ABSI) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 46,622 shares of the company’s stock, valued at approximately $191,000.

Several other large investors have also recently added to or reduced their stakes in ABSI. ARK Investment Management LLC increased its position in shares of Absci by 15.1% during the third quarter. ARK Investment Management LLC now owns 6,337,622 shares of the company’s stock valued at $24,210,000 after purchasing an additional 833,734 shares during the period. Marshall Wace LLP boosted its stake in Absci by 23.3% during the second quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock worth $5,648,000 after buying an additional 347,079 shares in the last quarter. Fred Alger Management LLC increased its holdings in Absci by 4.3% in the 3rd quarter. Fred Alger Management LLC now owns 7,566,618 shares of the company’s stock valued at $28,904,000 after buying an additional 309,843 shares during the period. Bank of New York Mellon Corp raised its stake in shares of 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 buying an additional 239,747 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Absci during the 3rd quarter worth about $724,000. Institutional investors and hedge funds own 52.05% of the company’s stock.

Absci Trading Up 3.4 %

Shares of Absci stock opened at $2.71 on Friday. Absci Co. has a 12-month low of $2.45 and a 12-month high of $6.72. The stock has a market capitalization of $311.26 million, a P/E ratio of -2.91 and a beta of 2.02. The company has a 50-day simple moving average of $3.30 and a 200 day simple moving average of $3.68. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.01.

Absci (NASDAQ:ABSI) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The firm had revenue of $1.70 million for the quarter, compared to analyst estimates 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 previous year, the business posted ($0.24) EPS. Research analysts expect that Absci Co. will post -0.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.