Absci Corporation $ABSI Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its stake in shares of Absci Corporation (NASDAQ:ABSI) by 22.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,719,849 shares of the company’s stock after selling 488,496 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Absci were worth $6,002,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in ABSI. AQR Capital Management LLC grew its position in shares of Absci by 279.4% during the first quarter. AQR Capital Management LLC now owns 55,538 shares of the company’s stock worth $139,000 after buying an additional 40,901 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Absci by 17.5% during the first quarter. Goldman Sachs Group Inc. now owns 314,858 shares of the company’s stock worth $790,000 after purchasing an additional 46,975 shares during the last quarter. Woodline Partners LP lifted its stake in Absci by 32.9% during the first quarter. Woodline Partners LP now owns 1,391,245 shares of the company’s stock worth $3,492,000 after purchasing an additional 344,270 shares during the last quarter. Geode Capital Management LLC lifted its stake in Absci by 22.5% during the second quarter. Geode Capital Management LLC now owns 2,445,450 shares of the company’s stock worth $6,286,000 after purchasing an additional 448,984 shares during the last quarter. Finally, Creative Planning lifted its stake in Absci by 145.4% during the second quarter. Creative Planning now owns 46,882 shares of the company’s stock worth $120,000 after purchasing an additional 27,775 shares during the last quarter. Institutional investors and hedge funds own 52.05% of the company’s stock.

Absci Price Performance

Shares of ABSI opened at $3.23 on Friday. The stock has a market capitalization of $494.25 million, a PE ratio of -3.80 and a beta of 2.00. Absci Corporation has a 12-month low of $2.24 and a 12-month high of $5.23. The business’s fifty day moving average price is $2.78 and its 200 day moving average price is $3.25.

Absci (NASDAQ:ABSI) last posted its earnings results on Tuesday, March 24th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.07). The company had revenue of $0.65 million during the quarter, compared to the consensus estimate of $1.38 million. Absci had a negative net margin of 4,113.68% and a negative return on equity of 62.33%. As a group, research analysts anticipate that Absci Corporation will post -0.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Absci in a research note on Wednesday, January 21st. Needham & Company LLC restated a “buy” rating and set a $7.00 price objective on shares of Absci in a research note on Wednesday, March 25th. Finally, Morgan Stanley cut Absci from an “overweight” rating to an “equal weight” rating and set a $4.32 price objective on the stock. in a research note on Thursday, January 8th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Absci presently has an average rating of “Hold” and an average target price of $6.44.

Insiders Place Their Bets

In related news, insider Andreas Busch bought 100,000 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were bought at an average cost of $2.29 per share, for a total transaction of $229,000.00. Following the completion of the purchase, the insider owned 421,446 shares of the company’s stock, valued at $965,111.34. This represents a 31.11% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sean Mcclain sold 26,761 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $2.99, for a total value of $80,015.39. Following the completion of the sale, the chief executive officer owned 8,334,567 shares in the company, valued at $24,920,355.33. The trade was a 0.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 10.49% of the company’s stock.

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.