Absci (NASDAQ:ABSI) CEO Sells $80,015.39 in Stock

Absci Corporation (NASDAQ:ABSI) CEO Sean Mcclain sold 26,761 shares of the 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 owned 8,334,567 shares in the company, valued at approximately $24,920,355.33. This trade represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Absci Stock Up 6.3%

Shares of ABSI stock opened at $2.69 on Friday. Absci Corporation has a 12-month low of $2.01 and a 12-month high of $6.33. The firm has a fifty day moving average of $3.33 and a 200-day moving average of $3.24. The firm has a market capitalization of $404.50 million, a price-to-earnings ratio of -2.99 and a beta of 2.11.

Absci (NASDAQ:ABSI) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.20) EPS 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 business had revenue of $0.38 million for the quarter, compared to analyst estimates of $1.58 million. Research analysts expect that Absci Corporation will post -0.89 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ABSI. ARK Investment Management LLC increased its stake in Absci by 21.1% in the 3rd quarter. ARK Investment Management LLC now owns 12,162,773 shares of the company’s stock valued at $36,975,000 after buying an additional 2,116,845 shares during the last quarter. Heights Capital Management Inc. bought a new position in shares of Absci in the 3rd quarter valued at about $6,081,000. Vanguard Group Inc. grew its holdings in shares of Absci by 12.9% in the 3rd quarter. Vanguard Group Inc. now owns 7,281,918 shares of the company’s stock valued at $22,137,000 after acquiring an additional 830,336 shares in the last quarter. UBS Group AG increased its position in shares of Absci by 35.4% in the fourth quarter. UBS Group AG now owns 2,699,505 shares of the company’s stock valued at $9,421,000 after acquiring an additional 706,396 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Absci by 24.4% during the third quarter. Ameriprise Financial Inc. now owns 3,191,011 shares of the company’s stock worth $9,701,000 after acquiring an additional 625,451 shares in the last quarter. Institutional investors and hedge funds own 52.05% of the company’s stock.

Wall Street Analysts Forecast Growth

ABSI has been the topic of several research analyst reports. Morgan Stanley downgraded shares of Absci from an “overweight” rating to an “equal weight” rating and set a $4.32 target price on the stock. in a report on Thursday, January 8th. Needham & Company LLC restated a “buy” rating and set a $7.00 price objective on shares of Absci in a report on Friday, December 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Absci in a research report on Wednesday, January 21st. Finally, HC Wainwright upped their target price on shares of Absci from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $7.66.

About Absci

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.