Banque Transatlantique SA Acquires New Position in Absci Corporation $ABSI

Banque Transatlantique SA acquired a new stake in Absci Corporation (NASDAQ:ABSI) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 12,100 shares of the company’s stock, valued at approximately $28,000.

A number of other hedge funds have also added to or reduced their stakes in ABSI. Cambridge Investment Research Advisors Inc. bought a new position in Absci in the first quarter valued at approximately $26,000. Neuberger Berman Group LLC bought a new stake in shares of Absci during the first quarter worth $26,000. BNP Paribas Financial Markets bought a new stake in shares of Absci during the fourth quarter worth $28,000. AssuredPartners Investment Advisors LLC bought a new stake in shares of Absci during the first quarter worth $29,000. Finally, Cresset Asset Management LLC bought a new stake in shares of Absci during the first quarter worth $31,000. 52.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ABSI has been the topic of a number of research reports. Wall Street Zen cut shares of Absci from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 16th. Morgan Stanley decreased their target price on shares of Absci from $6.40 to $5.89 and set an “overweight” rating on the stock in a research note on Monday, August 18th. Finally, Needham & Company LLC decreased their target price on shares of Absci from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $7.98.

Absci Stock Performance

Shares of NASDAQ:ABSI opened at $2.46 on Friday. The firm has a market cap of $367.82 million, a PE ratio of -2.62 and a beta of 2.01. The firm’s fifty day moving average is $2.79 and its 200-day moving average is $2.91. Absci Corporation has a 52 week low of $2.01 and a 52 week high of $6.33.

Absci (NASDAQ:ABSI) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). The business had revenue of $0.59 million for the quarter, compared to analyst estimates of $1.39 million. Absci had a negative return on equity of 60.21% and a negative net margin of 2,737.94%. Sell-side analysts forecast that Absci Corporation will post -0.89 EPS for the current year.

Insider Activity at Absci

In other Absci news, insider Andreas Busch purchased 50,000 shares of the business’s stock in a transaction dated Monday, July 28th. The shares were bought at an average price of $3.04 per share, for a total transaction of $152,000.00. Following the completion of the acquisition, the insider owned 327,264 shares in the company, valued at approximately $994,882.56. This trade represents a 18.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 10.49% of the company’s stock.

Absci Profile

Absci Corporation operates as a data-first generative artificial intelligence (AI) drug creation company in the United States. The company combines AI with scalable wet lab technologies to create biologics for patients. Its integrated drug creation platform is designed to improve upon traditional biologic drug discovery by using AI to simultaneously optimize multiple drug characteristics that may be important to development and therapeutic benefit.