Baker BROS. Advisors LP Takes Position in Absci Corporation $ABSI

Baker BROS. Advisors LP acquired a new stake in Absci Corporation (NASDAQ:ABSI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,134,803 shares of the company’s stock, valued at approximately $7,450,000. Baker BROS. Advisors LP owned about 1.42% of Absci as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ABSI. Quarry LP acquired a new position in shares of Absci during the 3rd quarter worth approximately $26,000. BNP Paribas Financial Markets increased its holdings in shares of Absci by 91.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 11,287 shares of the company’s stock worth $29,000 after acquiring an additional 5,385 shares during the last quarter. Legal & General Group Plc increased its holdings 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 worth $30,000 after acquiring an additional 3,678 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Absci during the 3rd quarter worth about $31,000. Finally, Scientech Research LLC bought a new stake in shares of Absci during the 3rd quarter worth about $31,000. 52.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. Guggenheim lifted their target price on shares of Absci from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 target price on shares of Absci in a report on Wednesday, March 25th. BTIG Research assumed coverage on shares of Absci in a report on Thursday, May 28th. They set a “buy” rating and a $9.00 target price for the company. Truist Financial lifted their target price on shares of Absci from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Absci in a report on Monday, April 20th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Absci has an average rating of “Moderate Buy” and a consensus price target of $9.44.

Absci Trading Up 2.6%

Shares of NASDAQ:ABSI opened at $7.18 on Thursday. The firm has a 50 day moving average of $5.15 and a 200-day moving average of $3.80. The stock has a market capitalization of $1.12 billion, a PE ratio of -8.65 and a beta of 2.44. Absci Corporation has a 12 month low of $2.24 and a 12 month high of $8.17.

Absci (NASDAQ:ABSI) last issued its earnings results on Thursday, May 7th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.01. The company had revenue of $0.22 million during the quarter, compared to analysts’ expectations of $1.39 million. Absci had a negative net margin of 6,450.76% and a negative return on equity of 66.32%. On average, research analysts predict that Absci Corporation will post -0.72 EPS for the current fiscal year.

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.