# Absci Corporation (ABSI)

> Source: Nexqual · https://nexqual.com/ABSI · data as of 2026-10-28 20:00 UTC · cite as "Nexqual, Absci Corporation (ABSI), nexqual.com/ABSI" · informational, not investment advice.

**Price:** USD 11.88 (+12.39% on the day) · last close of Oct 28, 2026; US market closed, not a live price. Prev close 10.57 · day 10.43–11.89 · 52w 2.24–12.06 · market cap $2.04B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.6M, net income -$121M (-7756.4% margin), free cash flow -$109M (SEC filings).
- Insider open-market purchases, last ~7 months: 2 Form 4 filings, $350K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 1.91 on a 1–5 scale) (11 analysts), mean target USD 14.9 (range 10–20).
- Total return with dividends: 1Y +141.9% vs S&P 500 +13.2%; 5Y -19.0% vs S&P 500 +79.8%.
- Next earnings: 2026-11-12, EPS estimate USD -0.2, revenue estimate $613K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $4.8M | $5.7M | $5.7M | $4.5M | $2.8M | $1.6M |
| Operating income | -$75.2M | -$107M | -$116M | -$109M | -$120M | -$126M |
| Net income | -$101M | -$105M | -$111M | -$103M | -$115M | -$121M |
| EPS (diluted) | -$2.08 | -$1.15 | -$1.20 | -$0.94 | -$0.84 | — |
| Free cash flow | -$98.6M | -$97.5M | -$65.5M | -$72.8M | -$94.0M | -$109M |
| Operating margin | -1573.4% | -1857.5% | -2020.2% | -2401.6% | -4297.0% | -8084.5% |
| Net margin | -2111.3% | -1825.4% | -1933.6% | -2274.1% | -4113.7% | -7756.4% |
| Revenue growth | +0.0% | +20.2% | -0.5% | -20.7% | -38.2% | — |
| Cash + short-term investments | $253M | — | — | $112M | $144M | — |
| Total debt | $3.5M | $10.9M | $7.9M | $4.0M | $0K | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 1306.1x · P/B 8.3x · FCF yield -5.35% · Earnings yield -5.94%

## Insider purchases (SEC Form 4, open-market, last ~7 months)
2 purchases, $350K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-06-30 | Szela Mary T | Director | 12,900 | $149K | 11.54 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-13 | Pangalos Menelas N | Director | 37,453 | $201K | 5.36 | Too little history (no open-market trades in 2023 or 2024) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.91 on a 1–5 scale), 11 analysts; mean target USD 14.9 (low 10, high 20).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-16 | Keybanc | Target raised | Overweight | $16 → $20 |
| 2026-10-12 | JP Morgan | Target raised | Overweight | $14 → $15 |
| 2026-10-12 | HC Wainwright & Co. | Reiterated | Buy | $16 |
| 2026-09-23 | Needham | Reiterated | Buy | $11 |
| 2026-09-09 | LifeSci Capital | Initiated | Outperform |  |
| 2026-09-08 | BTIG | Target raised | Buy | $13 → $16 |
| 2026-08-12 | Needham | Reiterated | Buy | $11 |
| 2026-08-12 | BTIG | Reiterated | Buy | $13 |
| 2026-07-02 | Truist Securities | Target raised | Buy | $11 → $17 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +141.9% | -19.0% |
| S&P 500 (SPY) | +13.2% | +79.8% |
| Per year | +143.2% | -4.1% |
| Volatility (annualized) | 101.4% | 95.3% |
| Max drawdown | -47.4% (Oct 2025→Mar 2026) | -92.8% (Nov 2021→Oct 2023) |

## Peers (Biotechnology)
ORKA (Oruka Therapeutics, Inc.) USD 95.97 +0.17% · LGND (Ligand Pharmaceuticals Incorpor) USD 318.78 +2.26% · IOVA (Iovance Biotherapeutics, Inc.) USD 14.81 +1.58% · IONS (Ionis Pharmaceuticals, Inc.) USD 44.9 +2.14% · AXSM (Axsome Therapeutics, Inc.) USD 143.51 +0.92% · ABVX (Abivax SA) USD 89.84 +3.26%

## More
Full page: https://nexqual.com/ABSI · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in ABSI's own 10-K filed 2026-03-24 (https://www.sec.gov/Archives/edgar/data/1672688/000167268826000068/absi-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | WuXi | "If any third parties upon whom we rely, including for example, WuXi entities, are designated in the future, or if our current or prospective partners, customers, or counterparties change their policies or contractual req…" |
| Partner | AMD (AMD) | "AMD strategic collaboration" |
| Partner | Merck (MRK) | "Absci has had a track record of partnerships with leading biopharmaceutical companies including Merck, AstraZeneca, Almirall and others." |
| Partner | Totient | "In June 2021, we entered into a merger agreement with Totient, Inc. ("Totient")." |
| Partner | LLC and Cowen and Company | "On March 1, 2024, we sold an aggregate of 19,205,000 shares of our common stock, pursuant to an underwriting agreement with Morgan Stanley & Co. LLC and Cowen and Company, LLC at a public offering price of $4.50 per shar…" |
| Partner | Oracle (ORCL) | "The Company has access to compute capacity and other services through an agreement with Oracle Cloud Infrastructure (OCI) through early 2028." |
| Competitor | AbbVie (ABBV) | "•ABS-101: There are several companies with product candidates targeting TL1A in clinical development for the treatment of IBD, including Merck's MK-7240, Roche/Roivant's RVT-3101, Sanofi/Teva's TEV-48574 TL1A, Spyre's SP…" |

## Company outlook (8-K filed 2026-08-11)

- "Absci anticipates reporting interim proof-of-concept data from this study in the second half of 2026 and full proof-of-concept data in early 2027."
- "Absci anticipates reporting interim proof-of-concept data in the second half of 2026 and full proof-of-concept data in early 2027. • ABS-201 for Endometriosis: Endometriosis is a condition that impacts a large, underserved patient population with significant unmet medical need and poor standard of care."
- "With the safety, tolerability, and PK data generated in the ongoing HEADLINE trial, Absci anticipates initiation of a Phase 2 clinical trial for endometriosis in the fourth quarter of 2026, with potential proof-of-concept data in the second half of 2027. • ABS-202 for Undisclosed I&I Indication: ABS-202 is an anti-PRLR antibody in preclinical development for an undisclosed I&I indication."
- "Exhibit 99.1 Based on the company's current projections, Absci now believes its cash, cash equivalents, and marketable securities will be sufficient to fund its operating plans into the second half of 2028."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.20 | $-0.20 | $0.00 | $613,000 | 7 |
| Next quarter (ends 2026-12-31) | $-0.20 | $-0.20 | $0.00 | $1.1M | 7 |
| Current fiscal year (ends 2026-12-31) | $-0.81 | $-0.78 | −$0.03 | $3.9M | 7 |
| Next fiscal year (ends 2027-12-31) | $-0.68 | $-0.62 | −$0.05 | $16.0M | 7 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-12): ±24.9%; last 8 reports averaged ±9.3%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 23 | 124.5% | ±24.9% |
| 2026-12-18 | 51 | 175.6% | ±51.2% |
| 2027-01-15 | 79 | 151.9% | ±54.6% |
| 2027-02-19 | 114 | 123.5% | ±53.0% |
| 2027-05-21 | 205 | 110.1% | ±62.1% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Aug 11, 2026 | Quarter ended Jun 30, 2026 | −$0.21 | −$0.20 | Miss −5.0% | +5.4% |
| May 7, 2026 | Quarter ended Mar 31, 2026 | −$0.19 | −$0.20 | Beat +5.0% | -0.8% |
| Mar 24, 2026 | Quarter ended Dec 31, 2025 | −$0.23 | −$0.17 | Miss −35.3% | -0.3% |
| Nov 12, 2025 | Quarter ended Sep 30, 2025 | −$0.20 | −$0.21 | Beat +4.8% | -23.5% |
| Aug 12, 2025 | — | — | — | — | +9.5% |
| May 13, 2025 | — | — | — | — | -0.7% |
| Mar 18, 2025 | — | — | — | — | -7.2% |
| Nov 12, 2024 | — | — | — | — | -26.6% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-27 | Schedule 13G/A | BlackRock, Inc.: 7.8% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1672688/000201238326003745/0002012383-26-003745-index.htm |
| 2026-08-11 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1672688/000167268826000136/0001672688-26-000136-index.htm |
| 2026-08-11 | 8-K | Quarterly results; Other material event — “From time to time, the Company presents and/or distributes slides and presentations to the investment community to provide updates and summaries of its business. On August 11, 2026, the Company released a presentation which includes certain internal pipeline program updates, which is available on the "News & Events" section of the Company's website. A copy of this presentation is filed as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated by reference herein.” | https://www.sec.gov/Archives/edgar/data/1672688/000167268826000134/0001672688-26-000134-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.