The Vanguard Group, Inc. has recently announced that it has increased stake in Absci Corporation (NASDAQ:ABSI) by 0.35%. After grabbing 2.38 million shares, the institutional investor is now in possession of 8269.0 shares of the Healthcare Company. The new investment brought the stake of investor firm to 2.58% having worth around $3.14 million. Moreover, SSgA Funds Management, Inc. increased its share by 0.12 million to have a control over 1.13 million shares. And Platinum Investment Management Lt raised its holdings to 0.26 million shares by acquiring 0.58 million shares or 0.63% of the stake.
Absci Corporation (ABSI) concluded trading on 05/25/23 at a closing price of $1.61, with 1.45 million shares of worth about $2.33 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -26.82% during that period and on Thursday the price saw a loss of about -0.62%. Currently the company’s common shares owned by public are about 91.48M shares, out of which, 62.83M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 8 analysts are covering the ABSI stock and their offered price forecasts bring an average price target of $7.73. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $14.00 and could fall to a lowest price of $2.40. The stock’s current price level is 79.17% above of average price target set by the analysts, while a rise to estimated low would result in gain of 32.92% for the stock. However, touching the estimated high of $14.00 would mean a gain of 88.5% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 1 times over the past 12 months. They bought 50,000 shares in 1 of the transactions. In 0 selling transactions, insiders dumped 0 shares.
Fidelity Growth Company Fund, Vanguard Total Stock Market ETF, and Fidelity Growth Company K6 Fund are the top 3 mutual funds which are holding stakes in Absci Corporation Fidelity Growth Company Fund is currently holding 4.01 million shares of worth totaling $5.29 million. The company recently came selling 53222.0 shares which brought its stake up to 4.34% of the company’s outstanding shares. Fidelity Growth Company K6 Fund, after buying 1.36 million shares, have now control over 1.47% of the stake in the company. It holds 50758.0 shares of worth $1.79 million.
Absci Corporation (NASDAQ: ABSI) started trading at $1.75, above $0.13 from concluding price of the previous day. However, the stock later moved at a day high price of 1.9600, or with a loss of -0.62%. Stock saw a price change of 36.44% in past 5 days and over the past one month there was a price change of 11.03%. Year-to-date (YTD), ABSI shares are showing a performance of -23.33% which decreased to -53.47% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.13 but also hit the highest price of $7.04 during that period. The average intraday trading volume for Absci Corporation shares is 438.28K. The stock is currently trading 19.13% above its 20-day simple moving average (SMA20), while that difference is up 2.93% for SMA50 and it goes to -38.62% lower than SMA200.
The Vanguard Group, Inc. acquired 2.38 million shares of Absci Corporation having value of about $3.14 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 8269.0 shares in the company valued at close to $13313.09, or have control over 0.35% stake in the company. Absci Corporation (NASDAQ: ABSI) currently have 91.48M outstanding shares and institutions hold larger chunk of about 48.10% of that. Holding of mutual funds in the company is about 25.95% while other institutional holders and individual stake holders have control over 26.08% and 16.60% of the stake respectively.
The stock has a current market capitalization of $126.37M. It has posted earnings per share of -$1.08 in the same period. It has Quick Ratio of 6.10 while making debt-to-equity ratio of 0.05. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ABSI, volatility over the week remained 21.24% while standing at 13.43% over the month.
Analysts are in expectations that Absci Corporation (ABSI) stock would likely to be making an EPS of -$0.24 in the current quarter, while forecast for next quarter EPS is -$0.23 and it is -$0.71 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.25 which is -$0.21 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.32 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 44.40% while it is estimated to increase by 25.00% in next year.
Analysts at 8 brokerage firms have issued recommendations for the Absci Corporation (ABSI)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.60. Out of those 8 Wall Street analysts, 5 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
