Man Group plc Acquires Shares of 85,273 Absci Corporation $ABSI

Man Group plc acquired a new position in shares of Absci Corporation (NASDAQ:ABSI) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 85,273 shares of the company’s stock, valued at approximately $988,000.

Other large investors have also modified their holdings of the company. ARK Investment Management LLC grew its position in Absci by 3.2% in the 4th quarter. ARK Investment Management LLC now owns 12,550,799 shares of the company’s stock valued at $43,802,000 after buying an additional 388,026 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Absci in the 2nd quarter worth $141,112,000. Vanguard Group Inc. boosted its holdings in shares of Absci by 12.9% in the third quarter. Vanguard Group Inc. now owns 7,281,918 shares of the company’s stock valued at $22,137,000 after acquiring an additional 830,336 shares in the last quarter. State Street Corp boosted its holdings in shares of Absci by 190.1% in the fourth quarter. State Street Corp now owns 5,990,877 shares of the company’s stock valued at $20,908,000 after acquiring an additional 3,925,926 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Absci by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 3,239,623 shares of the company’s stock worth $11,309,000 after acquiring an additional 186,708 shares during the period. Hedge funds and other institutional investors own 52.05% of the company’s stock.

Absci Price Performance

ABSI opened at $8.80 on Friday. The stock has a market cap of $1.51 billion, a P/E ratio of -11.00 and a beta of 2.42. The stock’s 50 day simple moving average is $9.30 and its 200 day simple moving average is $6.14. Absci Corporation has a 1-year low of $2.24 and a 1-year high of $12.06.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ABSI shares. Leerink Partners initiated coverage on shares of Absci in a research report on Thursday, June 4th. They issued an “outperform” rating and a $12.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Absci in a research report on Friday, July 17th. Wall Street Zen raised Absci from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Absci in a report on Wednesday, August 12th. Finally, Morgan Stanley restated a “positive” rating and issued a $10.00 price target on shares of Absci in a research note on Thursday, June 25th. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.43.

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.