Sumitomo Mitsui Trust Group Inc. Has $3 Million Holdings in Absci Co. (NASDAQ:ABSI)

Sumitomo Mitsui Trust Group Inc. increased its holdings in Absci Co. (NASDAQ:ABSI) by 28.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,143,829 shares of the company’s stock after acquiring an additional 253,985 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 1.00% of Absci worth $2,997,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in Absci by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 49,379 shares of the company’s stock worth $189,000 after purchasing an additional 6,409 shares in the last quarter. Barclays PLC grew its position in Absci by 379.6% in the 3rd quarter. Barclays PLC now owns 131,504 shares of the company’s stock worth $503,000 after purchasing an additional 104,083 shares in the last quarter. SG Americas Securities LLC bought a new stake in Absci in the 4th quarter worth about $111,000. Charles Schwab Investment Management Inc. grew its position in Absci by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 697,849 shares of the company’s stock worth $2,666,000 after purchasing an additional 11,602 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Absci in the 3rd quarter worth about $724,000. Institutional investors and hedge funds own 52.05% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ABSI shares. KeyCorp reduced their price objective on shares of Absci from $6.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Guggenheim reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Absci in a research report on Tuesday, December 3rd. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of Absci in a research report on Friday, January 17th. Finally, Needham & Company LLC started coverage on shares of Absci in a research report on Wednesday, January 22nd. They set a “buy” rating and a $9.00 target price for the company. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $8.57.

Absci Stock Up 0.2 %

Absci stock opened at $5.00 on Friday. Absci Co. has a twelve month low of $2.45 and a twelve month high of $6.72. The firm has a 50 day moving average price of $3.50 and a 200-day moving average price of $3.71. The company has a market capitalization of $574.28 million, a P/E ratio of -5.38 and a beta of 2.11. 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 released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The business had revenue of $1.70 million during the quarter, compared to the consensus estimate 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 last year, the business posted ($0.24) earnings per share. As a group, equities analysts predict that Absci Co. will post -0.89 EPS for the current year.

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.