Short Interest in Absci Co. (NASDAQ:ABSI) Expands By 59.8%

Absci Co. (NASDAQ:ABSIGet Free Report) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 6,090,000 shares, an increase of 59.8% from the January 15th total of 3,810,000 shares. Based on an average daily volume of 1,160,000 shares, the days-to-cover ratio is presently 5.3 days. Approximately 9.0% of the shares of the company are sold short.

Institutional Trading of Absci

Institutional investors and hedge funds have recently modified their holdings of the business. Clarius Group LLC purchased a new position in shares of Absci during the 3rd quarter valued at about $40,000. Farther Finance Advisors LLC raised its holdings in shares of Absci by 5.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 457,268 shares of the company’s stock valued at $695,000 after buying an additional 23,350 shares in the last quarter. Platinum Investment Management Ltd. raised its holdings in shares of Absci by 124.7% during the 2nd quarter. Platinum Investment Management Ltd. now owns 1,306,668 shares of the company’s stock valued at $1,986,000 after buying an additional 725,144 shares in the last quarter. Metropolitan Life Insurance Co NY purchased a new position in shares of Absci during the 1st quarter valued at about $33,000. Finally, UBS Group AG raised its holdings in shares of Absci by 1,314.8% during the 4th quarter. UBS Group AG now owns 14,148 shares of the company’s stock valued at $30,000 after buying an additional 13,148 shares in the last quarter. Hedge funds and other institutional investors own 36.30% of the company’s stock.

Absci Price Performance

Shares of NASDAQ:ABSI opened at $4.54 on Tuesday. The firm has a market capitalization of $421.95 million, a price-to-earnings ratio of -3.91 and a beta of 2.24. The stock’s 50 day moving average is $3.61 and its 200-day moving average is $2.26. Absci has a twelve month low of $1.11 and a twelve month high of $5.47. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.03.

Absci (NASDAQ:ABSIGet Free Report) last posted its quarterly earnings results on Tuesday, November 14th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Absci had a negative return on equity of 38.14% and a negative net margin of 1,535.13%. The firm had revenue of $0.74 million for the quarter, compared to the consensus estimate of $3.01 million. Sell-side analysts forecast that Absci will post -1.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ABSI. HC Wainwright lifted their target price on Absci from $4.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, January 8th. KeyCorp boosted their price target on Absci from $3.00 to $5.00 and gave the company an “overweight” rating in a research note on Friday, January 5th.

Check Out Our Latest Stock Report on ABSI

Absci Company Profile

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Absci Corporation operates as a generative AI drug creation company in the United States. Its integrated drug creation platform identifies novel drug targets and creates biotherapeutic candidates. The company was founded in 2011 and is headquartered in Vancouver, Washington.

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