BlackRock Inc. Buys Shares of 12,175,302 Absci Corporation $ABSI

BlackRock Inc. bought a new stake in Absci Corporation (NASDAQ:ABSI - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,175,302 shares of the company's stock, valued at approximately $141,112,000. BlackRock Inc. owned 7.81% of Absci as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Quarry LP bought a new stake in Absci during the third quarter valued at about $26,000. Essential Partners LLC raised its stake in shares of Absci by 113,850.0% in the first quarter. Essential Partners LLC now owns 9,116 shares of the company's stock worth $27,000 after buying an additional 9,108 shares during the period. Scientech Research LLC purchased a new position in shares of Absci during the 3rd quarter valued at about $31,000. Principal Financial Group Inc. purchased a new position in shares of Absci during the 1st quarter valued at about $31,000. Finally, Xponance LLC bought a new position in shares of Absci during the 4th quarter valued at approximately $37,000. 52.05% of the stock is currently owned by institutional investors.

Absci Price Performance

Shares of ABSI opened at $8.71 on Friday. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -10.89 and a beta of 2.35. Absci Corporation has a 1 year low of $2.24 and a 1 year high of $12.06. The business's 50 day simple moving average is $9.32 and its 200-day simple moving average is $5.94.

Absci (NASDAQ:ABSI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The business had revenue of $0.32 million during the quarter, compared to the consensus estimate of $0.92 million. Absci had a negative return on equity of 61.71% and a negative net margin of 7,756.38%. On average, sell-side analysts expect that Absci Corporation will post -0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

ABSI has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Absci from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Morgan Stanley reiterated a "positive" rating and issued a $10.00 price target on shares of Absci in a research report on Thursday, June 25th. Weiss Ratings reissued a "sell (d-)" rating on shares of Absci in a research note on Friday, July 17th. Guggenheim raised their price objective on shares of Absci from $10.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, June 15th. Finally, Leerink Partners started coverage on shares of Absci in a research note on Thursday, June 4th. They set an "outperform" rating and a $12.00 target price on the stock. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.43.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source