IQ EQ FUND MANAGEMENT IRELAND Ltd Invests $53,000 in Absci Co. (NASDAQ:ABSI)

IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Absci Co. (NASDAQ:ABSI) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 13,977 shares of the company’s stock, valued at approximately $53,000.

Other large investors also recently made changes to their positions in the company. Comerica Bank bought a new stake in shares of Absci during the first quarter worth $31,000. SG Americas Securities LLC bought a new position in Absci in the first quarter valued at $63,000. Avantax Advisory Services Inc. bought a new position in Absci in the first quarter valued at $71,000. The Manufacturers Life Insurance Company bought a new position in Absci in the second quarter valued at $100,000. Finally, Cannon Global Investment Management LLC bought a new position in Absci in the first quarter valued at $104,000. Institutional investors own 52.05% of the company’s stock.

Absci Stock Performance

Shares of ABSI stock opened at $4.21 on Friday. The stock has a market cap of $476.08 million, a P/E ratio of -3.63 and a beta of 2.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.49 and a quick ratio of 6.49. The company has a fifty day moving average price of $4.02 and a two-hundred day moving average price of $4.25. Absci Co. has a one year low of $1.11 and a one year high of $6.72.

Absci (NASDAQ:ABSI) last posted its earnings results on Wednesday, August 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). The company had revenue of $1.27 million for the quarter, compared to analyst estimates of $2.05 million. Absci had a negative return on equity of 44.24% and a negative net margin of 2,838.89%. During the same quarter in the prior year, the business posted ($0.27) EPS. As a group, equities analysts predict that Absci Co. will post -0.8 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. KeyCorp decreased their target price on shares of Absci from $8.00 to $6.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Absci in a research report on Thursday, August 15th. Guggenheim assumed coverage on shares of Absci in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $10.00 target price for the company. Finally, Morgan Stanley began coverage on shares of Absci in a research report on Wednesday, July 3rd. They issued an “overweight” rating and a $7.00 target price for the company. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Absci currently has an average rating of “Buy” and a consensus price target of $8.67.

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.