JPMorgan Chase & Co. increased its holdings in Absci Co. (NASDAQ:ABSI – Free Report) by 14.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 49,379 shares of the company’s stock after purchasing an additional 6,409 shares during the quarter. JPMorgan Chase & Co.’s holdings in Absci were worth $189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently added to or reduced their stakes in the business. Franklin Resources Inc. bought a new stake in shares of Absci during the third quarter valued at about $191,000. Wilmington Savings Fund Society FSB bought a new stake in Absci during the third quarter worth approximately $724,000. Barclays PLC raised its position in shares of Absci by 379.6% during the third quarter. Barclays PLC now owns 131,504 shares of the company’s stock worth $503,000 after purchasing an additional 104,083 shares during the period. Geode Capital Management LLC increased its position in shares of Absci by 6.8% in the third quarter. Geode Capital Management LLC now owns 1,933,593 shares of the company’s stock worth $7,388,000 after acquiring an additional 123,896 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Absci by 44.8% during the 3rd quarter. Wellington Management Group LLP now owns 348,854 shares of the company’s stock valued at $1,333,000 after purchasing an additional 107,980 shares during the period. 52.05% of the stock is currently owned by institutional investors and hedge funds.
Absci Trading Down 2.9 %
Absci stock opened at $3.71 on Friday. The company has a market capitalization of $426.13 million, a price-to-earnings ratio of -3.99 and a beta of 2.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63. The company’s fifty day moving average price is $3.21 and its two-hundred day moving average price is $3.68. Absci Co. has a one year low of $2.45 and a one year high of $6.72.
Wall Street Analyst Weigh In
Several research firms recently commented on ABSI. Needham & Company LLC assumed coverage on shares of Absci in a report on Wednesday, January 22nd. They set a “buy” rating and a $9.00 price target for the company. KeyCorp decreased their target price on shares of Absci from $6.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Guggenheim restated a “buy” rating and set a $10.00 price target on shares of Absci in a report on Tuesday, December 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Absci in a research report on Friday, January 17th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $8.57.
Check Out Our Latest Stock Analysis on Absci
Absci 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.
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