UBS Group AG grew its stake in shares of Absci Corporation (NASDAQ:ABSI – Free Report) by 35.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,699,505 shares of the company’s stock after acquiring an additional 706,396 shares during the period. UBS Group AG owned about 1.80% of Absci worth $9,421,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in ABSI. ARK Investment Management LLC grew its holdings in Absci by 21.1% during the 3rd quarter. ARK Investment Management LLC now owns 12,162,773 shares of the company’s stock worth $36,975,000 after acquiring an additional 2,116,845 shares in the last quarter. Heights Capital Management Inc. acquired a new position in Absci during the 3rd quarter worth $6,081,000. Vanguard Group Inc. grew its holdings in Absci by 12.9% during the 3rd quarter. Vanguard Group Inc. now owns 7,281,918 shares of the company’s stock worth $22,137,000 after acquiring an additional 830,336 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Absci by 24.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,191,011 shares of the company’s stock worth $9,701,000 after acquiring an additional 625,451 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Absci during the 2nd quarter worth $1,575,000. 52.05% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Absci
In related news, insider Andreas Busch purchased 100,000 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were bought at an average cost of $2.29 per share, for a total transaction of $229,000.00. Following the transaction, the insider owned 421,446 shares of the company’s stock, valued at $965,111.34. This represents a 31.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 10.49% of the company’s stock.
Analysts Set New Price Targets
Read Our Latest Research Report on ABSI
Absci Trading Down 7.4%
ABSI stock opened at $5.13 on Friday. Absci Corporation has a 52 week low of $2.24 and a 52 week high of $6.72. The company has a market capitalization of $799.77 million, a price-to-earnings ratio of -6.18 and a beta of 2.36. The firm’s 50-day moving average is $3.63 and its two-hundred day moving average is $3.37.
Absci (NASDAQ:ABSI – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. Absci had a negative net margin of 6,450.76% and a negative return on equity of 66.32%. The company had revenue of $0.22 million for the quarter, compared to the consensus estimate of $1.39 million. On average, equities research analysts predict that Absci Corporation will post -0.77 earnings per share for the current year.
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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