Royce & Associates LP Sells 257,366 Shares of Absci Corporation $ABSI

Royce & Associates LP decreased its position in shares of Absci Corporation (NASDAQ:ABSI) by 16.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,261,433 shares of the company’s stock after selling 257,366 shares during the quarter. Royce & Associates LP owned about 0.84% of Absci worth $3,835,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Absci by 12.9% in the third quarter. Vanguard Group Inc. now owns 7,281,918 shares of the company’s stock worth $22,137,000 after purchasing an additional 830,336 shares during the period. Marshall Wace LLP bought a new stake in shares of Absci in the 2nd quarter valued at $1,575,000. Geode Capital Management LLC raised its stake in Absci by 22.5% during the 2nd quarter. Geode Capital Management LLC now owns 2,445,450 shares of the company’s stock worth $6,286,000 after buying an additional 448,984 shares during the period. Woodline Partners LP lifted its holdings 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 acquiring an additional 344,270 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Absci by 19.4% in the second quarter. Bank of America Corp DE now owns 1,867,669 shares of the company’s stock valued at $4,800,000 after acquiring an additional 303,918 shares during the period. Institutional investors and hedge funds own 52.05% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ABSI. Morgan Stanley downgraded Absci from an “overweight” rating to an “equal weight” rating and set a $4.32 price target for the company. in a report on Thursday, January 8th. Needham & Company LLC reissued a “buy” rating and set a $7.00 target price on shares of Absci in a research note on Friday, December 12th. HC Wainwright raised their target price on shares of Absci from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Absci in a report on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $7.66.

Absci Trading Down 2.6%

Shares of ABSI opened at $2.59 on Friday. The stock has a market capitalization of $389.46 million, a price-to-earnings ratio of -2.88 and a beta of 2.12. Absci Corporation has a 12 month low of $2.01 and a 12 month high of $5.23. The firm has a fifty day simple moving average of $3.01 and a 200 day simple moving average of $3.19.

Insider Activity at Absci

In other news, CEO Sean Mcclain sold 26,761 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $2.99, for a total value of $80,015.39. Following the completion of the transaction, the chief executive officer owned 8,334,567 shares in the company, valued at $24,920,355.33. This trade represents a 0.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.49% of the stock is currently owned by corporate insiders.

Absci Company 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.