Hennion & Walsh Asset Management Inc. Invests $944,000 in Absci Corporation $ABSI

Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Absci Corporation (NASDAQ:ABSI) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 81,441 shares of the company’s stock, valued at approximately $944,000. Hennion & Walsh Asset Management Inc. owned approximately 0.05% of Absci as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Quarry LP bought a new stake in Absci in the third quarter worth $26,000. Essential Partners LLC lifted its holdings in Absci by 113,850.0% in the 1st quarter. Essential Partners LLC now owns 9,116 shares of the company’s stock worth $27,000 after buying an additional 9,108 shares during the period. BNP Paribas Financial Markets boosted its holdings in Absci by 91.2% in the second quarter. BNP Paribas Financial Markets now owns 11,287 shares of the company’s stock valued at $29,000 after acquiring an additional 5,385 shares in the last quarter. Legal & General Group Plc boosted its stake 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 valued at $30,000 after purchasing an additional 3,678 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new position in shares of Absci during the 1st quarter worth approximately $31,000. 52.05% of the stock is owned by hedge funds and other institutional investors.

Absci Price Performance

NASDAQ ABSI opened at $9.46 on Friday. The business has a 50 day simple moving average of $8.79 and a two-hundred day simple moving average of $5.47. Absci Corporation has a 1-year low of $2.24 and a 1-year high of $12.06. The stock has a market capitalization of $1.62 billion, a PE ratio of -11.83 and a beta of 2.35.

Absci (NASDAQ:ABSI) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Absci had a negative return on equity of 66.21% and a negative net margin of 7,756.38%.The business had revenue of $0.32 million during the quarter, compared to the consensus estimate of $0.92 million. On average, analysts anticipate that Absci Corporation will post -0.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ABSI shares. Truist Financial upped their target price on shares of Absci from $11.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Morgan Stanley reissued a “positive” rating and issued a $10.00 target price on shares of Absci in a report on Thursday, June 25th. Leerink Partners assumed coverage on shares of Absci in a research report on Thursday, June 4th. They set an “outperform” rating and a $12.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Absci in a report on Friday, July 17th. Finally, HC Wainwright increased their price target on shares of Absci from $8.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.