Deutsche Bank AG Takes Position in Absci Corporation $ABSI

Deutsche Bank AG bought a new position in shares of Absci Corporation (NASDAQ:ABSI) during the second quarter, HoldingsChannel.com reports. The firm bought 137,265 shares of the company’s stock, valued at approximately $1,591,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABSI. Quarry LP purchased a new stake in shares of Absci during the third quarter worth $26,000. Essential Partners LLC boosted its holdings in Absci by 113,850.0% in the first quarter. Essential Partners LLC now owns 9,116 shares of the company’s stock valued at $27,000 after purchasing an additional 9,108 shares during the period. BNP Paribas Financial Markets grew its stake in 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 purchasing an additional 5,385 shares in the last quarter. Legal & General Group Plc grew its stake in 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 purchasing an additional 3,678 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in Absci during the 1st quarter worth about $31,000. Hedge funds and other institutional investors own 52.05% of the company’s stock.

Analysts Set New Price Targets

ABSI has been the subject of several recent research reports. Morgan Stanley reiterated a “positive” rating and issued a $10.00 price objective on shares of Absci in a research note on Thursday, June 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 target price on shares of Absci in a report on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Absci in a report on Friday, July 17th. Leerink Partners began coverage on shares of Absci in a report on Thursday, June 4th. They set an “outperform” rating and a $12.00 price target for the company. Finally, BTIG Research reissued a “buy” rating and issued a $13.00 price objective on shares of Absci in a research report on Wednesday, August 12th. Eight analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.43.

Absci Stock Performance

Shares of NASDAQ ABSI opened at $8.71 on Friday. The stock’s 50-day simple moving average is $9.32 and its 200-day simple moving average is $5.94. The firm has a market capitalization of $1.49 billion, a PE ratio of -10.89 and a beta of 2.35. Absci Corporation has a fifty-two week low of $2.24 and a fifty-two week high of $12.06.

Absci (NASDAQ:ABSI) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Absci had a negative return on equity of 61.71% and a negative net margin of 7,756.38%.The company had revenue of $0.32 million for the quarter, compared to analyst estimates of $0.92 million. On average, sell-side analysts forecast that Absci Corporation will post -0.74 earnings per share for the current fiscal year.

Absci Company 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.