Fintel reports that on July 3, 2024, Morgan Stanley initiated coverage of Absci (NasdaqGS:ABSI) with a Overweight recommendation.
Analyst Price Forecast Suggests 175.85% Upside
As of June 12, 2024, the average one-year price target for Absci is $8.77/share. The forecasts range from a low of $6.06 to a high of $13.65. The average price target represents an increase of 175.85% from its latest reported closing price of $3.18 / share.
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The projected annual revenue for Absci is 31MM, an increase of 483.26%. The projected annual non-GAAP EPS is -0.92.
What is the Fund Sentiment?
There are 159 funds or institutions reporting positions in Absci. This is an increase of 51 owner(s) or 47.22% in the last quarter. Average portfolio weight of all funds dedicated to ABSI is 0.08%, an increase of 83.65%. Total shares owned by institutions increased in the last three months by 96.78% to 71,235K shares. 
The put/call ratio of ABSI is 0.27, indicating a bullish outlook.
What are Other Shareholders Doing?
Redmile Group holds 8,253K shares representing 7.30% ownership of the company. In its prior filing, the firm reported owning 8,031K shares , representing an increase of 2.69%. The firm increased its portfolio allocation in ABSI by 42.62% over the last quarter.
Fred Alger Management holds 7,408K shares representing 6.55% ownership of the company.
AOFAX - Alger Small Cap Focus Fund holds 5,807K shares representing 5.13% ownership of the company.
FDGRX - Fidelity Growth Company Fund holds 4,191K shares representing 3.71% ownership of the company. In its prior filing, the firm reported owning 3,949K shares , representing an increase of 5.76%. The firm increased its portfolio allocation in ABSI by 180.02% over the last quarter.
ARKG - ARK Genomic Revolution ETF holds 3,278K shares representing 2.90% ownership of the company. In its prior filing, the firm reported owning 431K shares , representing an increase of 86.85%. The firm increased its portfolio allocation in ABSI by 1,046.04% over the last quarter.
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This story originally appeared on Fintel.
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