What's the current narrative behind Absci Corporation's (ABSI) stock price drop following Andreas Busch's investment?

The stock price of Absci Corporation (ABSI) has experienced a significant drop from July 25 to July 30. The recent news of Absci's public offering could be a contributing factor to the stock price drop. Such a significant increase in stock supply can lead to a decrease in stock price as the market adjusts to the increased number of shares available for trading.

|code|Ticker|Name|Date|Percentage Change|market_code|
|---|---|---|---|---|---|
|ABSI|ABSI.O|Absci|20250728|2.7682|185|
|ABSI|ABSI.O|Absci|20250729|-0.6734|185|
|ABSI|ABSI.O|Absci|20250730|-1.0169|185|
|ABSI|ABSI.O|Absci|20250731|-3.0822|185|
|ABSI|ABSI.O|Absci|20250801|2.4735|185|

However, it should be noted that the stock price drop started before the public offering was announced, which suggests that the public offering might be a coincidence rather than the sole cause of the stock price drop. Other factors, such as market conditions, investor sentiment, and company-specific news, could also be influencing the stock price.

In addition, the downgrade in Absci's stock rating from "sell" to "hold" by Wall Street Zen might have impacted investor confidence and contributed to the stock price drop. Despite the public offering, insider Andreas Busch's purchase of 50,000 shares at an average price of $3.04 per share could indicate his confidence in the company's future, which might be perceived positively by investors and could have prevented a more severe stock price drop.

In summary, while the public offering might have influenced the stock price drop, it is likely not the sole reason, and other factors such as the downgrade in stock rating and insider transactions could also have played a role.