Uniting Wealth Partners LLC Purchases New Shares in Absci Corporation $ABSI

Uniting Wealth Partners LLC acquired a new stake in Absci Corporation (NASDAQ:ABSI) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 89,250 shares of the company’s stock, valued at approximately $1,034,000.

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

Analysts Set New Price Targets

ABSI has been the subject of a number of recent research reports. Wall Street Zen raised shares of Absci from a “sell” rating to a “hold” rating in a report on Saturday. Morgan Stanley reaffirmed a “positive” rating and set a $10.00 target price on shares of Absci in a report on Thursday, June 25th. Truist Financial lifted their price target on shares of Absci from $11.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price target on shares of Absci in a research note on Wednesday, August 12th. Finally, Guggenheim boosted their price target on Absci from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.43.

Absci Stock Performance

Shares of NASDAQ ABSI opened at $9.18 on Monday. The stock has a market capitalization of $1.58 billion, a P/E ratio of -11.47 and a beta of 2.35. The stock’s fifty day moving average is $8.85 and its 200 day moving average is $5.52. Absci Corporation has a 52 week low of $2.24 and a 52 week high of $12.06.

Absci (NASDAQ:ABSI) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Absci had a negative return on equity of 61.71% and a negative net margin of 7,756.38%.The firm had revenue of $0.32 million for the quarter, compared to the consensus estimate of $0.92 million. Equities research analysts forecast that Absci Corporation will post -0.71 earnings per share for the current year.

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.