Absci Co. (NASDAQ:ABSI) Short Interest Down 10.8% in January

Absci Co. (NASDAQ:ABSI) was the recipient of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 18,950,000 shares, a decrease of 10.8% from the January 15th total of 21,240,000 shares. Currently, 20.6% of the company’s stock are short sold. Based on an average daily trading volume, of 4,240,000 shares, the short-interest ratio is currently 4.5 days.

Absci Stock Up 16.4 %

Absci stock opened at $5.82 on Friday. The stock has a market cap of $668.49 million, a PE ratio of -6.26 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. The stock’s fifty day moving average is $3.56 and its two-hundred day moving average is $3.71. Absci has a 1-year low of $2.45 and a 1-year high of $6.72.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. PCA Investment Advisory Services Inc. acquired a new position in Absci in the fourth quarter valued at approximately $26,000. Alpha Cubed Investments LLC acquired a new position in shares of Absci in the 4th quarter valued at $26,000. Ballentine Partners LLC purchased a new position in shares of Absci in the 4th quarter valued at $27,000. Verdence Capital Advisors LLC acquired a new stake in Absci during the 4th quarter worth $37,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Absci in the third quarter valued at $53,000. Hedge funds and other institutional investors own 52.05% of the company’s stock.

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.