Absci (NASDAQ:ABSI) Stock Price Up 1%

Absci Co. (NASDAQ:ABSIGet Rating)’s stock price traded up 1% during mid-day trading on Tuesday . The stock traded as high as $3.25 and last traded at $3.12. 466,859 shares changed hands during mid-day trading, a decline of 0% from the average session volume of 468,491 shares. The stock had previously closed at $3.09.

Absci Price Performance

The business’s 50-day moving average price is $2.48 and its two-hundred day moving average price is $3.12. The firm has a market cap of $288.27 million, a price-to-earnings ratio of -2.54 and a beta of 0.62. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.71 and a quick ratio of 6.71.

Absci (NASDAQ:ABSIGet Rating) last issued its quarterly earnings results on Wednesday, November 9th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). The company had revenue of $2.37 million during the quarter, compared to analysts’ expectations of $1.79 million. Absci had a negative return on equity of 33.62% and a negative net margin of 1,960.28%. On average, research analysts forecast that Absci Co. will post -1.13 EPS for the current fiscal year.

Institutional Trading of Absci

A number of institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in Absci by 142.9% in the first quarter. JPMorgan Chase & Co. now owns 40,742 shares of the company’s stock valued at $344,000 after acquiring an additional 23,967 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Absci by 377.7% during the first quarter. Bank of New York Mellon Corp now owns 138,823 shares of the company’s stock valued at $1,171,000 after acquiring an additional 109,763 shares during the period. MetLife Investment Management LLC acquired a new position in shares of Absci during the first quarter valued at $285,000. Metropolitan Life Insurance Co NY acquired a new position in shares of Absci during the first quarter valued at $33,000. Finally, Rhumbline Advisers bought a new stake in Absci in the first quarter valued at about $399,000. 47.59% of the stock is currently owned by institutional investors.

About Absci

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Absci Corporation, a drug and target discovery company, provides biologic drug candidates and production cell lines using integrated drug creation platform for partners in the United States. Its integrated drug creation platform enables the creation of biologics by unifying the drug discovery and cell line development processes into one process.

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