Key Points
- Insider Andreas Busch purchased 100,000 Absci shares at $2.29 on March 12 for $229,000, increasing his direct stake to 421,446 shares (a 31.11% rise).
- Wall Street is mixed but generally positive: five Buy, one Hold and one Sell rating, with a consensus rating of "Moderate Buy" and an average target price of $7.66.
- ABSI opened at $2.50 (trading up 4.6%), has a one-year range of $2.01–$5.23, a market cap of about $375.9M and a negative PE of -2.78, indicating the company is not yet profitable.
Absci Corporation (NASDAQ:ABSI - Get Free Report) insider Andreas Busch purchased 100,000 shares of the company's stock in a transaction that occurred on Thursday, March 12th. The stock was bought at an average cost of $2.29 per share, for a total transaction of $229,000.00. Following the purchase, the insider directly owned 421,446 shares in the company, valued at $965,111.34. This represents a 31.11% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Absci Trading Up 4.6%
ABSI stock opened at $2.50 on Tuesday. Absci Corporation has a one year low of $2.01 and a one year high of $5.23. The firm has a market capitalization of $375.93 million, a PE ratio of -2.78 and a beta of 2.12. The firm has a 50-day moving average of $2.85 and a two-hundred day moving average of $3.19.
Wall Street Analysts Forecast Growth
ABSI has been the subject of several research analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Absci in a research report on Wednesday, January 21st. HC Wainwright lifted their price objective on shares of Absci from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Wednesday, December 17th. Needham & Company LLC restated a "buy" rating and issued a $7.00 target price on shares of Absci in a report on Friday, December 12th. Finally, Morgan Stanley cut Absci from an "overweight" rating to an "equal weight" rating and set a $4.32 target price for the company. in a research report on Thursday, January 8th. Five 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $7.66.
Check Out Our Latest Analysis on ABSI
Institutional Trading of Absci
A number of hedge funds have recently made changes to their positions in ABSI. Quarry LP acquired a new stake in shares of Absci during the third quarter worth approximately $26,000. BNP Paribas Financial Markets increased its stake in Absci by 91.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 11,287 shares of the company's stock valued at $29,000 after buying an additional 5,385 shares during the period. Legal & General Group Plc increased its stake 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 period. HB Wealth Management LLC purchased a new stake in Absci in the 3rd quarter worth approximately $31,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Absci during the 3rd quarter valued at $31,000. 52.05% of the stock is owned by hedge funds and other institutional investors.
About Absci
(
Get Free Report)
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.
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