Insider Buying: Absci (NASDAQ:ABSI) Insider Acquires $229,000.00 in Stock

Absci Corporation (NASDAQ:ABSI) insider Andreas Busch bought 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were acquired at an average cost of $2.29 per share, for a total transaction of $229,000.00. Following the completion of the acquisition, the insider directly owned 421,446 shares in the company, valued at $965,111.34. The trade was a 31.11% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Absci Price Performance

Shares of Absci stock opened at $2.86 on Thursday. The business has a fifty day simple moving average of $2.81 and a two-hundred day simple moving average of $3.19. Absci Corporation has a 1 year low of $2.01 and a 1 year high of $5.23. The company has a market capitalization of $430.06 million, a price-to-earnings ratio of -3.18 and a beta of 2.12.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its stake in Absci by 41.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 12,317 shares of the company’s stock worth $37,000 after purchasing an additional 3,638 shares in the last quarter. Legal & General Group Plc grew its position in shares of Absci by 45.9% during the 2nd quarter. Legal & General Group Plc now owns 11,690 shares of the company’s stock worth $30,000 after purchasing an additional 3,678 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Absci by 20.7% during the third quarter. SG Americas Securities LLC now owns 21,882 shares of the company’s stock worth $67,000 after purchasing an additional 3,758 shares during the period. Deutsche Bank AG increased its holdings in shares of Absci by 5.6% during the fourth quarter. Deutsche Bank AG now owns 92,148 shares of the company’s stock worth $322,000 after purchasing an additional 4,892 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Absci by 91.2% in the second 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 in the last quarter. Institutional investors own 52.05% of the company’s stock.

Wall Street Analyst Weigh In

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

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.