Absci Corporation $ABSI Stock Sold by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. decreased its holdings in shares of Absci Corporation (NASDAQ:ABSI) by 94.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,664 shares of the company’s stock after selling 64,292 shares during the period. SBI Securities Co. Ltd.’s holdings in Absci were worth $39,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. HB Wealth Management LLC raised its stake in shares of Absci by 28.4% in the first quarter. HB Wealth Management LLC now owns 12,942 shares of the company’s stock worth $39,000 after acquiring an additional 2,862 shares during the last quarter. AXQ Capital LP grew its stake in shares of Absci by 10.5% during the second quarter. AXQ Capital LP now owns 36,000 shares of the company’s stock valued at $417,000 after purchasing an additional 3,435 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Absci during the second quarter valued at approximately $53,000. Essential Partners LLC increased its holdings in shares of Absci by 113,850.0% in the first quarter. Essential Partners LLC now owns 9,116 shares of the company’s stock valued at $27,000 after purchasing an additional 9,108 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of Absci in the first quarter valued at approximately $31,000. 52.05% of the stock is owned by institutional investors and hedge funds.

Absci Stock Performance

Shares of NASDAQ ABSI opened at $12.10 on Friday. Absci Corporation has a 52-week low of $2.24 and a 52-week high of $12.54. The firm has a 50 day moving average price of $9.47 and a two-hundred day moving average price of $6.43. The stock has a market cap of $2.08 billion, a P/E ratio of -15.12 and a beta of 2.27.

Absci (NASDAQ:ABSI) last announced its earnings results on Tuesday, August 11th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The company had revenue of $0.32 million during the quarter, compared to the consensus estimate of $0.92 million. Absci had a negative net margin of 7,756.38% and a negative return on equity of 61.71%. Analysts predict that Absci Corporation will post -0.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on ABSI. Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of Absci in a report on Wednesday, September 23rd. Jefferies Financial Group began coverage on shares of Absci in a research note on Thursday. They issued a “buy” rating and a $14.00 target price on the stock. Truist Financial lifted their price target on shares of Absci from $11.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. HC Wainwright reissued a “buy” rating on shares of Absci in a research note on Tuesday, October 20th. Finally, Wall Street Zen upgraded shares of Absci from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

Absci Profile

Absci Corporation (NASDAQ: ABSI) is a biotechnology company that uses generative artificial intelligence and advanced biotechnology to discover and develop new medicines. Its integrated drug creation platform combines computational design with laboratory-based validation to identify potential therapeutic candidates, with a focus on biologics such as antibodies and other protein-based medicines.

The company’s technology is designed to support the creation of novel drug candidates from the earliest stages of discovery through preclinical development.