Key Points
- Sean McClain sold 26,761 shares of Absci on Feb. 2 at an average price of $2.99 for a total of $80,015.39, reducing his stake by 0.32% to 8,334,567 shares (worth about $24.9M).
- Absci shares opened at $2.91 and were reported down 5.8%, trading below their 50‑day and 200‑day moving averages ($3.35 and $3.25) with a 12‑month range of $2.01–$6.33 and a market cap around $437.6M.
- The company reported weak results (quarterly EPS of -$0.20 vs. -$0.19 expected and revenue $0.38M vs. $1.58M expected) and has negative margins, while analysts show a mixed view but a consensus “Moderate Buy” with an average price target near $7.66.
Absci Corporation (NASDAQ:ABSI - Get Free Report) CEO Sean Mcclain sold 26,761 shares of the firm's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $2.99, for a total transaction of $80,015.39. Following the completion of the transaction, the chief executive officer owned 8,334,567 shares in the company, valued at $24,920,355.33. The trade was a 0.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Absci Trading Down 5.8%
Shares of Absci stock opened at $2.91 on Thursday. The company has a fifty day moving average price of $3.35 and a 200 day moving average price of $3.25. Absci Corporation has a twelve month low of $2.01 and a twelve month high of $6.33. The stock has a market cap of $437.58 million, a price-to-earnings ratio of -3.23 and a beta of 2.11.
Absci (NASDAQ:ABSI - Get Free Report) last issued its earnings results on Wednesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Absci had a negative return on equity of 60.19% and a negative net margin of 4,071.19%.The company had revenue of $0.38 million during the quarter, compared to analysts' expectations of $1.58 million. Analysts forecast that Absci Corporation will post -0.89 earnings per share for the current year.
Hedge Funds Weigh In On Absci
A number of large investors have recently made changes to their positions in the business. Jones Financial Companies Lllp increased its stake in shares of Absci by 41.9% in the third quarter. Jones Financial Companies Lllp now owns 12,317 shares of the company's stock worth $37,000 after acquiring an additional 3,638 shares during the last quarter. Legal & General Group Plc grew its position 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. SG Americas Securities LLC lifted 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 buying an additional 3,758 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Absci by 91.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 11,287 shares of the company's stock valued at $29,000 after purchasing an additional 5,385 shares during the period. Finally, Alpha Cubed Investments LLC grew its position in Absci by 31.2% during the third quarter. Alpha Cubed Investments LLC now owns 26,230 shares of the company's stock worth $80,000 after buying an additional 6,230 shares in the last quarter. Institutional investors and hedge funds own 52.05% of the company's stock.
Analyst Ratings Changes
A number of research analysts have commented on ABSI shares. HC Wainwright increased their price objective 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $7.00 target price on shares of Absci in a research report on Friday, December 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Absci in a research report on Wednesday, January 21st. Finally, Morgan Stanley cut shares of Absci from an "overweight" rating to an "equal weight" rating and set a $4.32 target price on the stock. in a research note on Thursday, January 8th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Absci presently has a consensus rating of "Moderate Buy" and an average price target of $7.66.
Read Our Latest Stock Analysis on ABSI
About Absci
(
Get Free Report)
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.
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