Absci Co. (NASDAQ:ABSI) Short Interest Update

Absci Co. (NASDAQ:ABSIGet Free Report) was the target of a large growth in short interest in February. As of February 29th, there was short interest totalling 10,620,000 shares, a growth of 13.2% from the February 14th total of 9,380,000 shares. Based on an average daily volume of 1,620,000 shares, the short-interest ratio is currently 6.6 days. Approximately 13.0% of the shares of the stock are short sold.

Insider Buying and Selling

In related news, Director Redmile Group, Llc purchased 222,222 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were purchased at an average cost of $4.50 per share, for a total transaction of $999,999.00. Following the completion of the transaction, the director now directly owns 8,253,316 shares in the company, valued at approximately $37,139,922. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 11.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Absci

Several institutional investors have recently bought and sold shares of the stock. Credit Suisse AG bought a new position in Absci during the 2nd quarter worth approximately $25,000. Dimension Capital Management LLC purchased a new stake in Absci in the 3rd quarter worth approximately $28,000. Barclays PLC lifted its stake in shares of Absci by 538.2% in the 4th quarter. Barclays PLC now owns 14,251 shares of the company’s stock valued at $29,000 after purchasing an additional 12,018 shares during the period. UBS Group AG lifted its stake in shares of Absci by 1,314.8% in the 4th quarter. UBS Group AG now owns 14,148 shares of the company’s stock valued at $30,000 after purchasing an additional 13,148 shares during the period. Finally, Metropolitan Life Insurance Co NY purchased a new position in shares of Absci in the 1st quarter valued at approximately $33,000. 36.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ABSI has been the topic of several research analyst reports. HC Wainwright upped their price target on shares of Absci from $4.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, January 8th. Truist Financial restated a “buy” rating and set a $9.00 price objective on shares of Absci in a research report on Wednesday, March 6th. KeyCorp upped their target price on shares of Absci from $5.00 to $8.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Finally, Scotiabank started coverage on Absci in a research report on Thursday. They set a “sector outperform” rating and a $13.00 price target on the stock.

Check Out Our Latest Analysis on Absci

Absci Price Performance

Shares of NASDAQ:ABSI opened at $4.90 on Friday. The company’s fifty day moving average is $4.47 and its 200 day moving average is $2.80. Absci has a 52 week low of $1.11 and a 52 week high of $6.40. The stock has a market cap of $455.41 million, a PE ratio of -4.22 and a beta of 2.35. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.03.

Absci Company Profile

(Get Free Report)

Absci Corporation operates as a generative AI drug creation company in the United States. Its integrated drug creation platform identifies novel drug targets and creates biotherapeutic candidates. The company was founded in 2011 and is headquartered in Vancouver, Washington.

Recommended Stories

Receive News & Ratings for Absci Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Absci and related companies with MarketBeat.com's FREE daily email newsletter.