Raymond James Financial Services Advisors Inc. Acquires Shares of 32,070 Absci Co. (NASDAQ:ABSI)

Raymond James Financial Services Advisors Inc. bought a new stake in Absci Co. (NASDAQ:ABSI) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 32,070 shares of the company’s stock, valued at approximately $135,000.

Separately, Clarius Group LLC purchased a new position in shares of Absci in the third quarter valued at $40,000. 52.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Absci

In related news, Director Redmile Group, Llc bought 222,222 shares of the business’s stock in a transaction on Friday, March 1st. The shares were bought at an average price of $4.50 per share, for a total transaction of $999,999.00. Following the completion of the purchase, the director now directly owns 8,253,316 shares of the company’s stock, valued at $37,139,922. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 11.58% of the stock is owned by insiders.

Absci Stock Performance

ABSI stock opened at $4.46 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.08 and a quick ratio of 4.08. The business has a 50-day moving average price of $5.18 and a 200 day moving average price of $3.55. The company has a market capitalization of $502.48 million, a P/E ratio of -3.71 and a beta of 2.36. Absci Co. has a 1-year low of $1.11 and a 1-year high of $6.72.

Absci (NASDAQ:ABSI) last released its quarterly earnings data on Thursday, March 21st. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The firm had revenue of $0.34 million during the quarter, compared to the consensus estimate of $1.75 million. Absci had a negative net margin of 1,933.65% and a negative return on equity of 44.52%. As a group, equities research analysts forecast that Absci Co. will post -0.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on ABSI. KeyCorp lifted their price objective on shares of Absci from $5.00 to $8.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Scotiabank reiterated an “outperform” rating and set a $13.00 target price on shares of Absci in a research report on Monday, March 25th. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Absci in a research report on Friday, March 22nd. Finally, Truist Financial restated a “buy” rating and issued a $9.00 price objective on shares of Absci in a report on Tuesday, March 26th.

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.