Amova Asset Management Americas Inc. Has $4.04 Million Stock Position in Absci Corporation $ABSI

Amova Asset Management Americas Inc. lowered its stake in shares of Absci Corporation (NASDAQ:ABSI) by 5.5% during the first quarter, Holdings Channel reports. The fund owned 1,346,774 shares of the company’s stock after selling 78,004 shares during the period. Amova Asset Management Americas Inc.’s holdings in Absci were worth $4,040,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HB Wealth Management LLC increased its holdings 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 valued at $39,000 after purchasing an additional 2,862 shares in the last quarter. Legal & General Group Plc boosted its position in Absci by 45.9% in the 2nd quarter. Legal & General Group Plc now owns 11,690 shares of the company’s stock valued at $30,000 after buying an additional 3,678 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Absci by 5.6% in the 4th quarter. Deutsche Bank AG now owns 92,148 shares of the company’s stock valued at $322,000 after buying an additional 4,892 shares during the period. BNP Paribas Financial Markets raised its position in shares of Absci by 91.2% during the second 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. Finally, Invesco Ltd. raised its position in shares of Absci by 14.3% during the fourth quarter. Invesco Ltd. now owns 54,550 shares of the company’s stock worth $190,000 after acquiring an additional 6,826 shares during the last quarter. Institutional investors and hedge funds own 52.05% of the company’s stock.

Analysts Set New Price Targets

ABSI has been the topic of several research reports. Leerink Partners began coverage on Absci in a research note on Thursday, June 4th. They set an “outperform” rating and a $12.00 price target on the stock. BTIG Research lifted their price objective on Absci from $9.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Absci in a research report on Friday. Morgan Stanley restated a “positive” rating and issued a $10.00 price objective on shares of Absci in a report on Thursday, June 25th. Finally, Truist Financial raised their price objective on shares of Absci from $11.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.43.

Absci Trading Up 2.0%

Absci stock opened at $8.32 on Wednesday. The firm has a market capitalization of $1.30 billion, a P/E ratio of -10.02 and a beta of 2.32. The business has a 50-day moving average of $7.89 and a 200-day moving average of $4.88. Absci Corporation has a 1 year low of $2.24 and a 1 year high of $12.06.

Absci (NASDAQ:ABSI) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.01. The business had revenue of $0.21 million for the quarter, compared to analyst estimates of $1.39 million. Absci had a negative net margin of 6,450.76% and a negative return on equity of 66.32%. Research analysts anticipate that Absci Corporation will post -0.71 EPS for the current fiscal year.

About Absci

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.