2,307,698 Shares in Absci Corporation (NASDAQ:ABSI) Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA purchased a new position in shares of Absci Corporation (NASDAQ:ABSI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,307,698 shares of the company's stock, valued at approximately $5,792,000. Massachusetts Financial Services Co. MA owned about 1.81% of Absci at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Absci by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,800 shares of the company's stock valued at $120,000 after purchasing an additional 1,976 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Absci by 35.8% during the first quarter. Ballentine Partners LLC now owns 14,153 shares of the company's stock worth $36,000 after acquiring an additional 3,729 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Absci by 14.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,333 shares of the company's stock worth $77,000 after acquiring an additional 3,747 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Absci by 1.1% during the fourth quarter. Wellington Management Group LLP now owns 352,805 shares of the company's stock worth $924,000 after acquiring an additional 3,951 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Absci by 15.1% during the fourth quarter. Invesco Ltd. now owns 43,535 shares of the company's stock worth $114,000 after acquiring an additional 5,719 shares in the last quarter. 52.05% of the stock is owned by institutional investors.

Absci Stock Performance

Absci stock opened at $3.12 on Friday. Absci Corporation has a 52-week low of $2.01 and a 52-week high of $6.33. The firm has a 50 day moving average price of $2.78 and a two-hundred day moving average price of $3.18. The firm has a market cap of $397.99 million, a price-to-earnings ratio of -3.39 and a beta of 2.01.

Absci (NASDAQ:ABSI - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.02. The company had revenue of $1.18 million during the quarter, compared to analyst estimates of $1.07 million. Absci had a negative net margin of 2,232.13% and a negative return on equity of 53.69%. As a group, equities research analysts predict that Absci Corporation will post -0.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ABSI shares. KeyCorp increased their target price on shares of Absci from $5.00 to $9.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. Morgan Stanley initiated coverage on shares of Absci in a research report on Thursday, July 3rd. They issued an "overweight" rating and a $7.00 price objective on the stock. Wall Street Zen lowered shares of Absci from a "hold" rating to a "sell" rating in a research report on Sunday, June 29th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $9.00 price target on shares of Absci in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $8.40.

About Absci

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.

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