Absci Corporation $ABSI Shares Sold by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. trimmed its holdings in Absci Corporation (NASDAQ:ABSI) by 94.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,664 shares of the company’s stock after selling 64,292 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Absci were worth $39,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABSI. BlackRock Inc. bought a new stake in shares of Absci during the 2nd quarter valued at about $141,112,000. Parkman Healthcare Partners LLC acquired a new stake in Absci during the second quarter worth approximately $10,366,000. Bank of America Corp DE bought a new stake in Absci in the second quarter worth approximately $6,560,000. Siren L.L.C. bought a new stake in Absci in the first quarter worth approximately $5,400,000. Finally, Artia Global Partners LP bought a new stake in Absci in the second quarter worth approximately $5,383,000. 52.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABSI has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating on shares of Absci in a research note on Tuesday, October 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Absci in a report on Thursday, October 15th. Jefferies Financial Group began coverage on Absci in a research note on Thursday. They issued a “buy” rating and a $14.00 price objective for the company. Wall Street Zen upgraded Absci from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Lifesci Capital started coverage on Absci in a research report on Wednesday, September 9th. They set an “outperform” rating on the stock. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.50.

Absci Trading Up 1.9%

NASDAQ:ABSI opened at $12.10 on Friday. The stock has a market capitalization of $2.08 billion, a PE ratio of -15.12 and a beta of 2.27. The firm’s 50 day moving average is $9.47 and its 200 day moving average is $6.43. Absci Corporation has a 12 month low of $2.24 and a 12 month high of $12.54.

Absci (NASDAQ:ABSI) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The business had revenue of $0.32 million for the quarter, compared to analysts’ expectations of $0.92 million. Absci had a negative net margin of 7,756.38% and a negative return on equity of 61.71%. Research analysts predict that Absci Corporation will post -0.76 earnings per share for the current year.

Absci Profile

Absci Corporation (NASDAQ: ABSI) is a biotechnology company that uses generative artificial intelligence and advanced biotechnology to discover and develop new medicines. Its integrated drug creation platform combines computational design with laboratory-based validation to identify potential therapeutic candidates, with a focus on biologics such as antibodies and other protein-based medicines.

The company’s technology is designed to support the creation of novel drug candidates from the earliest stages of discovery through preclinical development.