Siren L.L.C. Buys New Holdings in Absci Corporation $ABSI

Siren L.L.C. purchased a new position in Absci Corporation (NASDAQ:ABSI) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,800,000 shares of the company’s stock, valued at approximately $5,400,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. purchased a new stake in Absci during the 1st quarter valued at approximately $31,000. HB Wealth Management LLC raised its position in shares of Absci by 28.4% during the first quarter. HB Wealth Management LLC now owns 12,942 shares of the company’s stock valued at $39,000 after buying an additional 2,862 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Absci by 14.3% in the fourth quarter. Invesco Ltd. now owns 54,550 shares of the company’s stock worth $190,000 after buying an additional 6,826 shares in the last quarter. XTX Topco Ltd lifted its holdings in shares of Absci by 380.9% in the fourth quarter. XTX Topco Ltd now owns 136,874 shares of the company’s stock worth $478,000 after buying an additional 108,413 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Absci by 8.5% during the fourth quarter. Wellington Management Group LLP now owns 410,124 shares of the company’s stock worth $1,431,000 after acquiring an additional 32,267 shares during the last quarter. 52.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Guggenheim raised their price objective on Absci from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Wall Street Zen lowered Absci from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Truist Financial raised their price target on Absci from $11.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Morgan Stanley reaffirmed a “positive” rating and issued a $10.00 price objective on shares of Absci in a research note on Thursday, June 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Absci in a research report on Friday, July 17th. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.43.

Absci Trading Down 2.1%

Shares of NASDAQ:ABSI opened at $8.07 on Friday. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -9.72 and a beta of 2.32. Absci Corporation has a 12 month low of $2.24 and a 12 month high of $12.06. The company has a 50-day moving average price of $8.00 and a 200 day moving average price of $4.95.

Absci (NASDAQ:ABSI) last issued its quarterly earnings data 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. Absci had a negative return on equity of 66.32% and a negative net margin of 6,450.76%.The company had revenue of $0.21 million for the quarter, compared to analysts’ expectations of $1.39 million. As a group, equities analysts forecast that Absci Corporation will post -0.71 EPS for the current year.

Absci Profile

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.