EntryPoint Capital LLC Buys 74,397 Shares of Absci Co. (NASDAQ:ABSI)

EntryPoint Capital LLC grew its holdings in Absci Co. (NASDAQ:ABSI) by 180.3% in the fourth quarter, HoldingsChannel reports. The fund owned 115,656 shares of the company’s stock after buying an additional 74,397 shares during the period. EntryPoint Capital LLC’s holdings in Absci were worth $303,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ABSI. PCA Investment Advisory Services Inc. bought a new position in Absci in the fourth quarter valued at about $26,000. Alpha Cubed Investments LLC acquired a new position in Absci in the fourth quarter valued at $26,000. Ballentine Partners LLC bought a new stake in shares of Absci during the 4th quarter valued at about $27,000. Verdence Capital Advisors LLC acquired a new stake in shares of Absci during the 4th quarter worth approximately $37,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in Absci in the fourth quarter worth $64,000. Institutional investors own 52.05% of the company’s stock.

Absci Trading Down 3.1 %

NASDAQ:ABSI opened at $2.81 on Friday. Absci Co. has a 12 month low of $2.45 and a 12 month high of $6.72. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $3.88 and a 200-day moving average price of $3.63. The stock has a market cap of $357.81 million, a price-to-earnings ratio of -3.02 and a beta of 2.09.

Absci (NASDAQ:ABSI) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). The company had revenue of $0.67 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%. Equities analysts predict that Absci Co. will post -0.89 EPS for the current year.

Analyst Upgrades and Downgrades

ABSI has been the topic of a number of recent research reports. KeyCorp dropped their price objective on shares of Absci from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Absci in a research report on Wednesday, March 19th. Guggenheim reaffirmed a “buy” rating and issued a $10.00 price target on shares of Absci in a report on Thursday, March 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price objective on shares of Absci in a report on Wednesday, March 19th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $7.60.

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.