Absci (NASDAQ:ABSI) CEO Sean Mcclain Sells 26,761 Shares of Stock

Absci Corporation (NASDAQ:ABSI) CEO Sean Mcclain sold 26,761 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $2.99, for a total value of $80,015.39. Following the transaction, the chief executive officer owned 8,334,567 shares of the company’s stock, valued at $24,920,355.33. This trade represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Absci Stock Performance

Shares of ABSI opened at $2.91 on Thursday. The stock has a market capitalization of $437.58 million, a PE ratio of -3.23 and a beta of 2.11. The company’s 50-day simple moving average is $3.35 and its 200-day simple moving average is $3.25. Absci Corporation has a 1 year low of $2.01 and a 1 year high of $6.33.

Absci (NASDAQ:ABSI) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The business had revenue of $0.38 million during the quarter, compared to analyst estimates of $1.58 million. Absci had a negative return on equity of 60.19% and a negative net margin of 4,071.19%. On average, sell-side analysts predict that Absci Corporation will post -0.89 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new position in Absci during the third quarter worth $26,000. BNP Paribas Financial Markets increased its stake in shares of Absci by 91.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 11,287 shares of the company’s stock worth $29,000 after purchasing an additional 5,385 shares in the last quarter. Legal & General Group Plc increased its position in Absci by 45.9% during the second quarter. Legal & General Group Plc now owns 11,690 shares of the company’s stock worth $30,000 after buying an additional 3,678 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Absci during the 3rd quarter worth about $31,000. Finally, HB Wealth Management LLC purchased a new stake in shares of Absci during the third quarter worth about $31,000. 52.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ABSI. Morgan Stanley lowered shares of Absci from an “overweight” rating to an “equal weight” rating and set a $4.32 price objective on the stock. in a report on Thursday, January 8th. HC Wainwright lifted their price target on Absci from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Needham & Company LLC reiterated a “buy” rating and issued a $7.00 price objective on shares of Absci in a report on Friday, December 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Absci in a research note on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.66.

Absci Company Profile

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.