Absci (NASDAQ:ABSI – Get Free Report) was upgraded by investment analysts at BTIG Research to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.
Several other equities research analysts have also recently weighed in on ABSI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Absci in a research note on Monday, April 20th. Morgan Stanley set a $4.10 target price on Absci in a research note on Thursday, May 14th. Truist Financial increased their target price on Absci from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $7.00 target price on shares of Absci in a research note on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Absci has a consensus rating of “Moderate Buy” and an average target price of $7.82.
View Our Latest Stock Report on ABSI
Absci Stock Performance
Absci (NASDAQ:ABSI – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. The company had revenue of $0.22 million during the quarter, compared to the consensus estimate of $1.39 million. Absci had a negative return on equity of 66.32% and a negative net margin of 6,450.76%. As a group, equities analysts predict that Absci will post -0.77 earnings per share for the current year.
Insider Transactions at Absci
In other news, insider Andreas Busch bought 100,000 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were acquired at an average cost of $2.29 per share, with a total value of $229,000.00. Following the completion of the transaction, the insider owned 421,446 shares of the company’s stock, valued at approximately $965,111.34. This trade represents a 31.11% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 10.49% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the stock. ARK Investment Management LLC raised its stake in Absci by 21.1% during the 3rd quarter. ARK Investment Management LLC now owns 12,162,773 shares of the company’s stock valued at $36,975,000 after purchasing an additional 2,116,845 shares during the period. Heights Capital Management Inc. bought a new stake in Absci during the 3rd quarter valued at approximately $6,081,000. UBS Group AG raised its stake 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 purchasing an additional 706,396 shares during the period. SBI Securities Co. Ltd. raised its stake in Absci by 1,569.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 63,127 shares of the company’s stock valued at $220,000 after purchasing an additional 59,345 shares during the period. Finally, AssuredPartners Investment Advisors LLC bought a new stake in Absci during the 4th quarter valued at approximately $43,000. Institutional investors own 52.05% of the company’s stock.
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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