Absci (NASDAQ:ABSI) Issues Earnings Results

Absci (NASDAQ:ABSI) posted its quarterly earnings data on Tuesday. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02), FiscalAI reports. The firm had revenue of $0.32 million during the quarter, compared to analysts’ expectations of $0.89 million. Absci had a negative net margin of 6,450.76% and a negative return on equity of 66.32%.

Here are the key takeaways from Absci’s conference call:

• ABS-201 interim Phase 1 results were encouraging: Management reported favorable safety and tolerability, with an estimated half-life of at least 65 days and modeling suggesting two to three doses could maintain more than 90% prolactin-receptor occupancy over six months.
• Multiple upcoming clinical catalysts remain on schedule. The company expects interim 13-week proof-of-concept data for pattern hair loss later in 2026, full 26-week data in early 2027, and plans to initiate a Phase 2 endometriosis study in the fourth quarter of 2026.
• Eli Lilly partnership and new financing strengthen resources. Lilly invested $40 million and is collaborating on ABS-201’s clinical development, while Absci’s June financing generated approximately $93.6 million in net proceeds and extended projected funding into the second half of 2028.
• Absci is expanding its AI drug-discovery platform with Atlas, which integrates literature, genetics, and single-cell data to identify targets before feeding them into the Origin molecule-design platform; management said the technology has already suggested additional prolactin-related indications.
• The company remains dependent on unproven clinical and commercial assumptions: durability of hair regrowth will not be established by the 13- or 26-week readouts, and the cited market opportunities and product profile are based partly on modeling, consumer research, and hypothetical profiles rather than clinical efficacy results.

Absci Stock Up 4.4%

Shares of NASDAQ:ABSI traded up $0.40 on Tuesday, reaching $9.41. 2,791,641 shares of the company’s stock were exchanged, compared to its average volume of 4,540,358. The business’s 50-day moving average is $8.62 and its two-hundred day moving average is $5.34. Absci has a fifty-two week low of $2.24 and a fifty-two week high of $12.06. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -11.34 and a beta of 2.35.

Institutional Investors Weigh In On Absci

A number of institutional investors have recently modified their holdings of the business. ARK Investment Management LLC boosted its stake in Absci by 3.2% in the fourth quarter. ARK Investment Management LLC now owns 12,550,799 shares of the company’s stock valued at $43,802,000 after acquiring an additional 388,026 shares during the period. Vanguard Group Inc. lifted 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 worth $22,137,000 after purchasing an additional 830,336 shares during the last quarter. State Street Corp lifted its holdings in shares of Absci by 190.1% in the 4th quarter. State Street Corp now owns 5,990,877 shares of the company’s stock worth $20,908,000 after purchasing an additional 3,925,926 shares during the last quarter. Geode Capital Management LLC boosted its position in Absci by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 3,239,623 shares of the company’s stock valued at $11,309,000 after purchasing an additional 186,708 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Absci by 24.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,191,011 shares of the company’s stock valued at $9,701,000 after purchasing an additional 625,451 shares during the period. Institutional investors own 52.05% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ABSI shares. Truist Financial raised their price target on shares of Absci from $11.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. BTIG Research boosted their target price on shares of Absci from $9.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Morgan Stanley reaffirmed a “positive” rating and set a $10.00 price target on shares of Absci in a research report on Thursday, June 25th. Wall Street Zen downgraded Absci from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective (up from $7.00) on shares of Absci in a report on Wednesday, June 24th. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.43.

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.