Artia Global Partners LP acquired a new position in shares of Absci Corporation (NASDAQ:ABSI - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 464,444 shares of the company's stock, valued at approximately $5,383,000. Absci accounts for about 1.0% of Artia Global Partners LP's portfolio, making the stock its 23rd biggest position. Artia Global Partners LP owned about 0.27% of Absci as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of ABSI. Siren L.L.C. acquired a new position in shares of Absci during the 1st quarter worth $5,400,000. Parkman Healthcare Partners LLC acquired a new stake in Absci in the 2nd quarter valued at about $10,366,000. Baker BROS. Advisors LP acquired a new stake in Absci in the 4th quarter valued at about $7,450,000. UBS Group AG increased its holdings in Absci by 35.4% during the 4th quarter. UBS Group AG now owns 2,699,505 shares of the company's stock valued at $9,421,000 after acquiring an additional 706,396 shares in the last quarter. Finally, Platinum Investment Management Ltd. purchased a new position in Absci during the 4th quarter valued at about $830,000. 52.05% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts have issued reports on ABSI shares. Guggenheim upped their price target on shares of Absci from $10.00 to $15.00 and gave the company a "buy" rating in a report on Monday, June 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of Absci in a research note on Friday, July 17th. Wall Street Zen upgraded Absci from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Needham & Company LLC reaffirmed a "buy" rating and issued a $11.00 target price on shares of Absci in a research note on Wednesday, August 12th. Finally, HC Wainwright upped their target price on Absci from $8.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, June 25th. Eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $13.43.
Read Our Latest Stock Analysis on Absci
Absci Stock Performance
Shares of NASDAQ ABSI opened at $9.22 on Thursday. The firm's 50 day moving average price is $9.25 and its 200 day moving average price is $5.88. The firm has a market cap of $1.58 billion, a P/E ratio of -11.53 and a beta of 2.35. Absci Corporation has a 1 year low of $2.24 and a 1 year high of $12.06.
Absci (NASDAQ:ABSI - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). The business had revenue of $0.32 million for the quarter, compared to analysts' expectations of $0.92 million. Absci had a negative return on equity of 61.71% and a negative net margin of 7,756.38%. As a group, equities analysts predict that Absci Corporation will post -0.74 EPS for the current year.
Absci Company Profile
(
Free Report)
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.
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