Absci Corporation $ABSI Holdings Increased by UBS Group AG

UBS Group AG grew its stake in shares of Absci Corporation (NASDAQ:ABSI) by 35.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,699,505 shares of the company’s stock after buying an additional 706,396 shares during the quarter. UBS Group AG’s holdings in Absci were worth $9,421,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. AQR Capital Management LLC raised its holdings in shares of Absci by 279.4% in the 1st quarter. AQR Capital Management LLC now owns 55,538 shares of the company’s stock worth $139,000 after purchasing an additional 40,901 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Absci by 17.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 314,858 shares of the company’s stock worth $790,000 after purchasing an additional 46,975 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Absci by 32.9% in the 1st quarter. Woodline Partners LP now owns 1,391,245 shares of the company’s stock worth $3,492,000 after purchasing an additional 344,270 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Absci by 22.5% in the 2nd quarter. Geode Capital Management LLC now owns 2,445,450 shares of the company’s stock worth $6,286,000 after purchasing an additional 448,984 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of Absci by 145.4% in the 2nd quarter. Creative Planning now owns 46,882 shares of the company’s stock worth $120,000 after purchasing an additional 27,775 shares in the last quarter. 52.05% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Andreas Busch acquired 100,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average cost of $2.29 per share, with a total value of $229,000.00. Following the completion of the transaction, the insider owned 421,446 shares of the company’s stock, valued at approximately $965,111.34. This trade represents a 31.11% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 10.49% of the company’s stock.

Wall Street Analysts Forecast Growth

ABSI has been the topic of a number of research reports. Truist Financial boosted their target price on shares of Absci from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Absci in a report on Monday, April 20th. Morgan Stanley set a $4.10 target price on shares of Absci in a report on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $7.00 target price on shares of Absci in a report on Wednesday, March 25th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Absci has an average rating of “Moderate Buy” and a consensus price target of $7.53.

Absci Price Performance

Absci stock opened at $5.13 on Friday. The firm’s 50 day simple moving average is $3.63 and its 200-day simple moving average is $3.37. The company has a market cap of $799.77 million, a P/E ratio of -6.18 and a beta of 2.36. Absci Corporation has a fifty-two week low of $2.24 and a fifty-two week high of $6.72.

Absci (NASDAQ:ABSI) last released its earnings results on Thursday, May 7th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.01. The business had revenue of $0.22 million for the quarter, compared to the consensus estimate of $1.39 million. Absci had a negative net margin of 6,450.76% and a negative return on equity of 66.32%. On average, analysts expect that Absci Corporation will post -0.77 EPS for the current fiscal year.

About Absci

Absci Corporation (NASDAQ: ABSI) is a biotechnology company that applies machine learning, synthetic biology and automation to accelerate the discovery and development of protein-based therapeutics. The company’s Integrated Drug Creation® (IDC®) platform is designed to identify and produce novel antibody and enzyme candidates at speeds and scales that traditional biopharma discovery methods cannot match. Absci works with pharmaceutical and biotechnology partners to generate, screen and optimize protein molecules for a wide range of therapeutic applications.

The core of Absci’s offering is its end-to-end discovery engine, which combines proprietary algorithms, high-throughput laboratory automation and a deep learning framework.