Absci (NASDAQ:ABSI) Shares Gap Down on Disappointing Earnings

Absci Corporation (NASDAQ:ABSI) gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $9.41, but opened at $9.02. Absci shares last traded at $9.1820, with a volume of 742,937 shares traded.

The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The company had revenue of $0.32 million for the quarter, compared to the consensus estimate of $0.89 million. Absci had a negative net margin of 6,450.76% and a negative return on equity of 66.32%.

Absci News Summary

Here are the key news stories impacting Absci this week:

• Positive Sentiment: Absci announced positive interim Phase 1 data from the HEADLINE™ trial of ABS-201, providing a potential clinical catalyst for the company’s AI-designed therapeutics pipeline. The company also said its cash, cash equivalents and marketable securities should fund operations into the second half of 2028. Absci Reports Business Updates and Second Quarter 2026 Financial and Operating Results
• Positive Sentiment: BTIG Research reaffirmed its Buy rating and raised or maintained a $13.00 price target, implying approximately 43.6% potential upside based on the referenced price. Benzinga analyst rating report
• Positive Sentiment: Needham & Company reaffirmed its Buy rating with an $11.00 price target, representing approximately 21.5% potential upside. The repeated bullish analyst views may support sentiment toward ABSI. Benzinga analyst rating report
• Positive Sentiment: Absci completed a $100 million underwritten offering, including a $40 million strategic investment from Eli Lilly. The financing strengthens liquidity and extends the company’s operating runway, while Lilly’s participation may add strategic validation. Absci Reports Business Updates and Second Quarter 2026 Financial and Operating Results
• Neutral Sentiment: Reported short interest was listed as zero shares with zero days to cover, offering no meaningful indication of short-covering demand or bearish positioning. The data may be incomplete or unreliable.
• Negative Sentiment: Second-quarter results missed expectations: adjusted loss was $0.21 per share versus the $0.19 consensus estimate, while revenue of $0.32 million fell well short of the $0.89 million forecast. Absci remains deeply unprofitable, creating a fundamental counterweight to the clinical and financing news. Absci second-quarter earnings report

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Guggenheim increased their price target on Absci from $10.00 to $15.00 and gave the company a “buy” rating in a report on Monday, June 15th. Wall Street Zen downgraded Absci from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Absci in a research report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Absci in a research note on Friday, July 17th. Finally, Truist Financial upped their price target on shares of Absci from $11.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.43.

Hedge Funds Weigh In On Absci

Several large investors have recently made changes to their positions in ABSI. HB Wealth Management LLC grew its holdings in shares of Absci by 28.4% in the first quarter. HB Wealth Management LLC now owns 12,942 shares of the company’s stock valued at $39,000 after purchasing an additional 2,862 shares during the period. 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 purchasing an additional 3,678 shares during the last quarter. Deutsche Bank AG raised its stake in Absci by 5.6% during the fourth quarter. Deutsche Bank AG now owns 92,148 shares of the company’s stock worth $322,000 after purchasing an additional 4,892 shares during the period. 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 last quarter. Finally, Invesco Ltd. boosted its holdings in Absci by 14.3% in the 4th quarter. Invesco Ltd. now owns 54,550 shares of the company’s stock valued at $190,000 after purchasing an additional 6,826 shares during the last quarter. 52.05% of the stock is currently owned by hedge funds and other institutional investors.

Absci Stock Performance

The firm’s 50 day moving average price is $8.68 and its two-hundred day moving average price is $5.38. The firm has a market cap of $1.42 billion, a PE ratio of -10.92 and a beta of 2.35.

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.