Platinum Investment Management Ltd. acquired a new position in shares of Absci Corporation (NASDAQ:ABSI – Free Report) during the 4th quarter, Holdings Channel reports. The fund acquired 237,764 shares of the company’s stock, valued at approximately $830,000.
Other hedge funds have also modified their holdings of the company. Quarry LP purchased a new stake in shares of Absci during the 3rd quarter worth approximately $26,000. BNP Paribas Financial Markets raised its holdings in shares of Absci by 91.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 11,287 shares of the company’s stock worth $29,000 after acquiring an additional 5,385 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Absci by 45.9% during the 2nd quarter. Legal & General Group Plc now owns 11,690 shares of the company’s stock worth $30,000 after acquiring an additional 3,678 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Absci during the 3rd quarter worth approximately $31,000. Finally, Scientech Research LLC purchased a new stake in shares of Absci during the 3rd quarter worth approximately $31,000. 52.05% of the stock is owned by hedge funds and other institutional investors.
Absci Stock Performance
NASDAQ:ABSI opened at $6.80 on Friday. The stock’s fifty day moving average is $4.90 and its 200 day moving average is $3.70. Absci Corporation has a fifty-two week low of $2.24 and a fifty-two week high of $7.39. The firm has a market capitalization of $1.06 billion, a PE ratio of -8.19 and a beta of 2.44.
Wall Street Analysts Forecast Growth
ABSI has been the topic of several recent research reports. Truist Financial upped their price objective on Absci from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Absci in a report on Monday, April 20th. Leerink Partners assumed coverage on Absci in a report on Thursday, June 4th. They set an “outperform” rating and a $12.00 price target on the stock. Morgan Stanley set a $4.10 price target on Absci in a report on Thursday, May 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $7.00 price target on shares of Absci in a report on Wednesday, March 25th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Absci has a consensus rating of “Moderate Buy” and a consensus price target of $8.52.
Read Our Latest Research Report on Absci
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.
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