Absci Corp’s recently made public that its Director Redmile Group, LLC acquired Company’s shares for reported $1.0 million on Mar 01 ’24. In the deal valued at $4.50 per share,222,222 shares were bought. As a result of this transaction, Redmile Group, LLC now holds 8,253,316 shares worth roughly $47.37 million.
Scotiabank initiated its Absci Corp [ABSI] rating to a Sector outperform in a research note published on March 14, 2024; the price target was $13. A number of analysts have revised their coverage, including KeyBanc Capital Markets’s analysts, who began to cover the stock in early December with a ‘”an Overweight”‘ rating. H.C. Wainwright began covering ABSI with “Buy” recommendation on May 04, 2023. JP Morgan revised its rating on August 12, 2022. It rated ABSI as “an Underweight” which previously was an “an Overweight”.
Price Performance Review of ABSI
On Friday, Absci Corp [NASDAQ:ABSI] saw its stock jump 2.68% to $5.74. Over the last five days, the stock has gained 1.06%. Absci Corp shares have risen nearly 36.67% since the year began. Nevertheless, the stocks have risen 226.14% over the past one year. While a 52-week high of $6.40 was reached on 03/04/24, a 52-week low of $1.11 was recorded on 01/19/24. SMA at 50 days reached $4.83, while 200 days put it at $2.71. A total of 0.95 million shares were traded, compared to the trading of 0.96 million shares in the previous session.
Levels Of Support And Resistance For ABSI Stock
The 24-hour chart illustrates a support level at 5.54, which if violated will result in even more drops to 5.34. On the upside, there is a resistance level at 5.84. A further resistance level may holdings at 5.94. The Relative Strength Index (RSI) on the 14-day chart is 60.63, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.28, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 1.46%. Stochastics %K at 84.43% indicates the stock is a selling.
How much short interest is there in Absci Corp?
A steep rise in short interest was recorded in Absci Corp stocks on Mar 15, 2024, growing by 1.3 million shares to a total of 10.68 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 9.38 million shares. There was a rise of 12.17%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 14.47% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.61.
The most recent change occurred on July 18, 2022 when Truist began covering the stock and recommended ‘”a Buy”‘ rating along with a $8 price target.
