2,134,803 Shares in Absci Corporation $ABSI Acquired by Baker BROS. Advisors LP

Baker BROS. Advisors LP acquired a new stake in Absci Corporation (NASDAQ:ABSI) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,134,803 shares of the company’s stock, valued at approximately $7,450,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABSI. Quarry LP bought a new stake in shares of Absci during the third quarter worth $26,000. BNP Paribas Financial Markets grew its stake in shares of Absci by 91.2% during the second quarter. BNP Paribas Financial Markets now owns 11,287 shares of the company’s stock worth $29,000 after buying an additional 5,385 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Absci by 45.9% during the second quarter. Legal & General Group Plc now owns 11,690 shares of the company’s stock worth $30,000 after buying an additional 3,678 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Absci during the third quarter worth $31,000. Finally, Scientech Research LLC bought a new stake in shares of Absci during the third quarter worth $31,000. Institutional investors own 52.05% of the company’s stock.

Absci Stock Performance

Shares of NASDAQ ABSI opened at $7.18 on Thursday. Absci Corporation has a 52-week low of $2.24 and a 52-week high of $8.17. The firm has a 50 day moving average price of $5.15 and a two-hundred day moving average price of $3.80. The stock has a market cap of $1.12 billion, a P/E ratio of -8.65 and a beta of 2.44.

Absci (NASDAQ:ABSI) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $0.22 million during the quarter, compared to analysts’ expectations of $1.39 million. Analysts predict that Absci Corporation will post -0.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Absci from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Needham & Company LLC restated a “buy” rating and issued a $7.00 price target on shares of Absci in a research report on Wednesday, March 25th. BTIG Research started coverage on shares of Absci in a research report on Thursday, May 28th. They issued a “buy” rating and a $9.00 price target for the company. Guggenheim upped their price target on shares of Absci from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Monday. Finally, Leerink Partners started coverage on shares of Absci in a research report on Thursday, June 4th. They issued an “outperform” rating and a $12.00 price target for the company. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.44.

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.