Absci Sees Unusually High Options Volume (NASDAQ:ABSI)

Absci Co. (NASDAQ:ABSI) was the recipient of some unusual options trading on Tuesday. Investors acquired 4,017 call options on the stock. This is an increase of 270% compared to the average daily volume of 1,085 call options.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Platinum Investment Management Ltd. lifted its position in Absci by 20.5% in the 4th quarter. Platinum Investment Management Ltd. now owns 551,188 shares of the company’s stock valued at $1,444,000 after acquiring an additional 93,785 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of Absci by 56.7% during the 4th quarter. Intech Investment Management LLC now owns 35,265 shares of the company’s stock worth $92,000 after purchasing an additional 12,765 shares during the period. Nikko Asset Management Americas Inc. grew its position in shares of Absci by 28.5% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 1,143,829 shares of the company’s stock valued at $2,997,000 after acquiring an additional 253,985 shares during the period. Royce & Associates LP raised its stake in shares of Absci by 472.1% in the fourth quarter. Royce & Associates LP now owns 882,096 shares of the company’s stock valued at $2,311,000 after buying an additional 727,905 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Absci in the fourth quarter worth about $508,000. Institutional investors own 52.05% of the company’s stock.

Analyst Upgrades and Downgrades

ABSI has been the topic of several recent analyst reports. Needham & Company LLC initiated coverage on shares of Absci in a report on Wednesday, January 22nd. They issued a “buy” rating and a $9.00 target price on the stock. KeyCorp lowered 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 target price on shares of Absci in a report on Tuesday, December 3rd. Finally, HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Absci in a report on Friday, January 17th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Absci presently has an average rating of “Buy” and an average price target of $8.57.

Absci Trading Up 6.0 %

NASDAQ ABSI traded up $0.26 on Tuesday, reaching $4.59. The company had a trading volume of 1,696,570 shares, compared to its average volume of 7,013,094. The business has a 50 day moving average of $3.39 and a two-hundred day moving average of $3.69. Absci has a fifty-two week low of $2.45 and a fifty-two week high of $6.72. The firm has a market cap of $527.21 million, a price-to-earnings ratio of -4.91 and a beta of 2.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63.

Absci (NASDAQ:ABSI) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). The firm had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.77 million. Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. During the same period last year, the company posted ($0.24) EPS. Analysts forecast that Absci will post -0.89 EPS for the current year.

Absci Company 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.