Bank of New York Mellon Corp bought a new position in shares of Absci Corporation (NASDAQ:ABSI - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 386,832 shares of the company's stock, valued at approximately $4,483,000. Bank of New York Mellon Corp owned approximately 0.25% of Absci at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Siren L.L.C. bought a new stake in shares of Absci during the 1st quarter valued at $5,400,000. Bank of America Corp DE boosted its stake in Absci by 55.2% in the 1st quarter. Bank of America Corp DE now owns 487,193 shares of the company's stock worth $1,462,000 after purchasing an additional 173,361 shares during the period. Baker BROS. Advisors LP bought a new position in Absci in the 4th quarter worth about $7,450,000. UBS Group AG grew 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 buying 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 owned by institutional investors.
Absci Trading Up 0.2%
Shares of NASDAQ ABSI opened at $8.82 on Friday. The business has a 50-day moving average of $9.26 and a 200-day moving average of $6.16. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -11.03 and a beta of 2.42. Absci Corporation has a 12 month low of $2.24 and a 12 month high of $12.06.
Absci (NASDAQ:ABSI - Get Free Report) last announced its 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). Absci had a negative net margin of 7,756.38% and a negative return on equity of 61.71%. The company had revenue of $0.32 million during the quarter, compared to analysts' expectations of $0.92 million. On average, analysts predict that Absci Corporation will post -0.74 earnings per share for the current year.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on ABSI. Truist Financial increased their price target on shares of Absci from $11.00 to $17.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. HC Wainwright boosted their price objective on shares of Absci from $8.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, June 25th. BTIG Research reaffirmed a "buy" rating and set a $13.00 target price on shares of Absci in a report on Wednesday, August 12th. Guggenheim increased their target price on shares of Absci from $10.00 to $15.00 and gave the stock a "buy" rating in a research note on Monday, June 15th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $11.00 price target on shares of Absci in a report on Wednesday, August 12th. 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, Absci presently has a consensus rating of "Moderate Buy" and an average target price of $13.43.
Get Our Latest Research Report on ABSI
About Absci
(
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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