Absci Corp’s (NASDAQ:ABSI) Lock-Up Period Will End on January 18th

Absci’s (NASDAQ:ABSI) lock-up period is set to end on Tuesday, January 18th. Absci had issued 12,500,000 shares in its IPO on July 22nd. The total size of the offering was $200,000,000 based on an initial share price of $16.00. After the expiration of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Several equities analysts have issued reports on the stock. Bank of America downgraded shares of Absci from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $17.00 to $10.00 in a research note on Wednesday, November 10th. Zacks Investment Research downgraded shares of Absci from a “buy” rating to a “hold” rating in a research note on Tuesday, November 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Absci has a consensus rating of “Hold” and a consensus target price of $23.80.

Shares of Absci stock opened at $6.64 on Friday. Absci has a 12-month low of $6.12 and a 12-month high of $31.53. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.94 and a quick ratio of 9.94. The firm has a 50-day moving average of $9.89.

Absci (NASDAQ:ABSI) last issued its quarterly earnings data on Monday, November 8th. The company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.15). The business had revenue of $1.54 million for the quarter, compared to analysts’ expectations of $2.18 million. Absci had a negative return on equity of 258.68% and a negative net margin of 1,332.67%. As a group, sell-side analysts predict that Absci will post -0.23 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Perceptive Advisors LLC purchased a new stake in Absci in the 3rd quarter worth approximately $17,175,000. American International Group Inc. acquired a new position in shares of Absci during the 3rd quarter valued at $88,000. Bank of New York Mellon Corp acquired a new position in shares of Absci during the 3rd quarter valued at $302,000. ArrowMark Colorado Holdings LLC purchased a new stake in Absci during the 3rd quarter worth $21,629,000. Finally, Two Sigma Investments LP purchased a new stake in Absci during the 3rd quarter worth $149,000. 38.15% of the stock is owned by hedge funds and other institutional investors.

About Absci

Absci Corporation is the AI-powered synthetic biology company unlocking the potential of proteins as the next generation of therapeutics. The company’s Creation(TM) Platform involved in discovery of novel biotherapeutic drug candidates and generation of the cell lines to manufacture them in a single efficient process.

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