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

Man Group plc purchased a new stake in Absci Corporation (NASDAQ:ABSI) during the 2nd quarter, Holdings Channel reports. The firm purchased 85,273 shares of the company’s stock, valued at approximately $988,000.

A number of other hedge funds have also modified their holdings of ABSI. HB Wealth Management LLC raised its position in shares of Absci by 28.4% during the 1st quarter. HB Wealth Management LLC now owns 12,942 shares of the company’s stock worth $39,000 after purchasing an additional 2,862 shares during the last quarter. Legal & General Group Plc increased its position in Absci by 45.9% during the second quarter. Legal & General Group Plc now owns 11,690 shares of the company’s stock worth $30,000 after buying an additional 3,678 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Absci by 5.6% in the fourth quarter. Deutsche Bank AG now owns 92,148 shares of the company’s stock worth $322,000 after acquiring an additional 4,892 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of 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. Finally, Invesco Ltd. boosted its stake in shares of Absci by 14.3% during the fourth quarter. Invesco Ltd. now owns 54,550 shares of the company’s stock valued at $190,000 after acquiring an additional 6,826 shares during the last quarter. 52.05% of the stock is owned by hedge funds and other institutional investors.

Absci Stock Performance

Shares of NASDAQ:ABSI opened at $8.80 on Friday. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -11.00 and a beta of 2.42. The stock’s 50-day moving average price is $9.30 and its two-hundred day moving average price is $6.14. Absci Corporation has a 12-month low of $2.24 and a 12-month high of $12.06.

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

Analyst Ratings Changes

Several research analysts recently weighed in on ABSI shares. Guggenheim boosted their target price on shares of Absci from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Leerink Partners began coverage on shares of Absci in a report on Thursday, June 4th. They set an “outperform” rating and a $12.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Absci in a research report on Friday, July 17th. HC Wainwright upped their price objective on shares of Absci from $8.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Absci in a research report on Wednesday, August 12th. Eight 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 presently has a consensus rating of “Moderate Buy” and an average price target of $13.43.

Absci 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.