Royce & Associates LP Has $3.84 Million Position in Absci Corporation $ABSI

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

Other hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake in shares of Absci by 91.2% during the 2nd 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 period. Legal & General Group Plc increased its holdings in shares of Absci by 45.9% in the second quarter. Legal & General Group Plc now owns 11,690 shares of the company’s stock valued at $30,000 after purchasing an additional 3,678 shares during the last quarter. HB Wealth Management LLC bought a new position in shares of Absci in the third quarter valued at about $31,000. Principal Financial Group Inc. acquired a new stake in shares of Absci during the 3rd quarter worth about $31,000. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of Absci during the 3rd quarter worth about $32,000. 52.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Absci

In other news, CEO Sean Mcclain sold 26,761 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $2.99, for a total transaction of $80,015.39. Following the completion of the sale, the chief executive officer directly owned 8,334,567 shares in the company, valued at approximately $24,920,355.33. This represents a 0.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 10.49% of the company’s stock.

Absci Trading Down 2.6%

Shares of ABSI stock opened at $2.59 on Friday. The stock has a market cap of $389.46 million, a P/E ratio of -2.88 and a beta of 2.12. Absci Corporation has a 1 year low of $2.01 and a 1 year high of $5.23. The stock has a 50 day simple moving average of $3.01 and a 200 day simple moving average of $3.19.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. HC Wainwright increased their price target on shares of Absci from $7.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Morgan Stanley downgraded Absci from an “overweight” rating to an “equal weight” rating and set a $4.32 target price on the stock. in a research report on Thursday, January 8th. Needham & Company LLC reissued a “buy” rating and set a $7.00 price target on shares of Absci in a report on Friday, December 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Absci in a research note on Wednesday, January 21st. Five equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.