Deutsche Bank AG Acquires New Stake in Absci Corporation $ABSI

Key Points

• Deutsche Bank acquired 137,265 Absci shares in the second quarter, valued at approximately $1.59 million, giving it a 0.09% stake. Institutional investors and hedge funds collectively own 52.05% of the company.
• Absci’s stock opened at $8.71 after falling 7.5%, while the company reported a quarterly loss of $0.21 per share and revenue of $0.32 million, both worse than analyst expectations.
• Analyst sentiment remains favorable, with eight Buy ratings and one Sell rating; the stock carries a “Moderate Buy” consensus and an average price target of $13.43.

Deutsche Bank AG purchased a new position in Absci Corporation (NASDAQ:ABSI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 137,265 shares of the company's stock, valued at approximately $1,591,000. Deutsche Bank AG owned approximately 0.09% of Absci at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABSI. Persistent Asset Partners Ltd purchased a new stake in Absci during the 2nd quarter valued at about $123,000. Uniting Wealth Partners LLC purchased a new position in Absci in the 2nd quarter worth approximately $1,034,000. Bank of New York Mellon Corp purchased a new position in Absci in the 2nd quarter worth approximately $4,483,000. GSA Capital Partners LLP acquired a new position in shares of Absci during the 2nd quarter worth approximately $259,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in shares of Absci during the 2nd quarter worth approximately $944,000. 52.05% of the stock is currently owned by institutional investors and hedge funds.

Absci Stock Down 7.5%

ABSI stock opened at $8.71 on Friday. Absci Corporation has a 52-week low of $2.24 and a 52-week high of $12.06. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -10.89 and a beta of 2.35. The business has a fifty day moving average of $9.32 and a two-hundred day moving average of $5.94.

Absci (NASDAQ:ABSI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate 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 business had revenue of $0.32 million during the quarter, compared to analyst estimates of $0.92 million. As a group, sell-side analysts anticipate that Absci Corporation will post -0.74 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ABSI shares. Leerink Partners initiated coverage on Absci in a report on Thursday, June 4th. They issued an "outperform" rating and a $12.00 price target for the company. Morgan Stanley restated a "positive" rating and issued a $10.00 target price on shares of Absci in a report on Thursday, June 25th. Wall Street Zen raised Absci from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Needham & Company LLC reiterated a "buy" rating and set a $11.00 price target on shares of Absci in a report on Wednesday, August 12th. Finally, HC Wainwright boosted their price target on shares of Absci from $8.00 to $16.00 and gave the company a "buy" rating in a research report on Thursday, June 25th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $13.43.

About Absci

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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