Absci Co. (NASDAQ:ABSI) Shares Bought by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. increased its position in Absci Co. (NASDAQ:ABSI) by 28.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,143,829 shares of the company’s stock after buying an additional 253,985 shares during the period. Nikko Asset Management Americas Inc. owned about 1.00% of Absci worth $2,997,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC boosted its stake in Absci by 1.2% in the 3rd quarter. FMR LLC now owns 12,727,760 shares of the company’s stock worth $48,620,000 after buying an additional 147,156 shares during the last quarter. ARK Investment Management LLC lifted its holdings in shares of Absci by 30.4% during the 4th quarter. ARK Investment Management LLC now owns 8,265,936 shares of the company’s stock worth $21,657,000 after acquiring an additional 1,928,314 shares during the period. Fred Alger Management LLC boosted its position in shares of Absci by 4.3% in the third quarter. Fred Alger Management LLC now owns 7,566,618 shares of the company’s stock worth $28,904,000 after acquiring an additional 309,843 shares during the last quarter. Geode Capital Management LLC grew its holdings in Absci by 6.8% in the third quarter. Geode Capital Management LLC now owns 1,933,593 shares of the company’s stock valued at $7,388,000 after purchasing an additional 123,896 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Absci by 28.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,829 shares of the company’s stock valued at $2,997,000 after purchasing an additional 253,985 shares during the period. Hedge funds and other institutional investors own 52.05% of the company’s stock.

Analyst Upgrades and Downgrades

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

Absci Trading Up 2.2 %

NASDAQ:ABSI opened at $3.21 on Tuesday. The business’s 50-day moving average is $3.87 and its two-hundred day moving average is $3.69. The firm has a market capitalization of $368.69 million, a PE ratio of -3.45 and a beta of 2.09. Absci Co. has a 12 month low of $2.45 and a 12 month high of $6.72. 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 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.