Squarepoint Ops LLC Has $1.88 Million Stock Position in Absci Corporation $ABSI

Squarepoint Ops LLC lowered its stake in Absci Corporation (NASDAQ:ABSI) by 58.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 162,449 shares of the company’s stock after selling 228,841 shares during the period. Squarepoint Ops LLC’s holdings in Absci were worth $1,883,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Parkman Healthcare Partners LLC bought a new stake in Absci during the second quarter worth about $10,366,000. Siren L.L.C. acquired a new stake in Absci during the first quarter worth about $5,400,000. Artia Global Partners LP bought a new position in Absci in the 2nd quarter valued at about $5,383,000. Deutsche Bank AG bought a new position in Absci in the 2nd quarter valued at about $1,591,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Absci in the 2nd quarter valued at approximately $4,483,000. Institutional investors and hedge funds own 52.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Leerink Partners initiated coverage on shares of Absci in a report on Thursday, June 4th. They set an “outperform” rating and a $12.00 price target for the company. Truist Financial lifted 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. Morgan Stanley restated a “positive” rating and set a $10.00 price objective on shares of Absci in a research report on Thursday, June 25th. BTIG Research set a $15.00 target price on Absci and gave the stock a “buy” rating in a research note on Tuesday, September 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Absci in a research note on Wednesday, August 12th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.71.

Absci Stock Down 1.5%

Absci stock opened at $8.09 on Tuesday. The stock has a market cap of $1.39 billion, a PE ratio of -10.11 and a beta of 2.42. Absci Corporation has a 12-month low of $2.24 and a 12-month high of $12.06. The business’s 50-day moving average price is $8.90 and its two-hundred day moving average price is $6.43.

Absci (NASDAQ:ABSI) last posted its earnings results on Tuesday, August 11th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $0.32 million during the quarter, compared to the consensus estimate of $0.92 million. As a group, analysts expect that Absci Corporation will post -0.74 earnings per share for the current year.

About Absci

Absci Corporation is a biotechnology company that uses artificial intelligence and integrated laboratory technologies to discover and develop new biologic medicines. Its platform combines generative artificial intelligence with biological data and wet-lab experimentation to design therapeutic proteins and antibodies, with the goal of improving the speed and efficiency of drug development.

The company’s capabilities include target discovery, protein design, antibody generation, and experimental validation.