Parkman Healthcare Partners LLC Acquires New Shares in Absci Corporation $ABSI

Parkman Healthcare Partners LLC acquired a new position in shares of Absci Corporation (NASDAQ:ABSI) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 894,374 shares of the company’s stock, valued at approximately $10,366,000. Parkman Healthcare Partners LLC owned about 0.52% of Absci at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ABSI. Siren L.L.C. bought a new position in shares of Absci during the first quarter worth about $5,400,000. Baker BROS. Advisors LP bought a new stake in Absci in the 4th quarter valued at about $7,450,000. UBS Group AG lifted its position in Absci by 35.4% in the 4th quarter. UBS Group AG now owns 2,699,505 shares of the company’s stock valued at $9,421,000 after purchasing an additional 706,396 shares during the last quarter. Platinum Investment Management Ltd. acquired a new position in Absci during the 4th quarter valued at about $830,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in Absci during the 2nd quarter valued at about $944,000. 52.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Absci in a research note on Friday, July 17th. BTIG Research reissued a “buy” rating and issued a $13.00 price objective on shares of Absci in a report on Wednesday, August 12th. HC Wainwright raised their target price on Absci from $8.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Leerink Partners assumed coverage on Absci in a research report on Thursday, June 4th. They issued an “outperform” rating and a $12.00 target price on the stock. Finally, Morgan Stanley reaffirmed a “positive” rating and set a $10.00 target price on shares of Absci in a research note on Thursday, June 25th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Absci currently has an average rating of “Moderate Buy” and an average price target of $13.43.

Absci Trading Down 7.4%

Absci stock opened at $8.84 on Tuesday. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of -11.05 and a beta of 2.35. The company’s 50-day moving average price is $9.16 and its two-hundred day moving average price is $5.78. Absci Corporation has a 52 week low of $2.24 and a 52 week high of $12.06.

Absci (NASDAQ:ABSI) last announced its earnings results on Tuesday, August 11th. The company reported ($0.21) 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 the consensus estimate 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 earnings per share for the current fiscal 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.