Latest news with #ABSI
Business Insider
2 days ago
- Business
- Business Insider
CRSP, ABSI, IRDM: Cathie Wood Offloads $16.4M of CRISPR Therapeutics Stock, Buys Absci and Iridium
Ace hedge fund manager Cathie Wood made some interesting trades on July 25, according to ARK Invest's daily trade updates. Wood sold $16.46 million worth of biotechnology company Crispr Therapeutics (CRSP) and $2.15 million of defense contractor Kratos Defense (KTOS) stock. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Meanwhile, ARK funds added $6.2 million in biotechnology firm Absci Corp. (ABSI), purchased 262,141 shares of genomic diagnostics company Veracyte (VCYT), and acquired 69,969 shares of satellite company Iridium Communications (IRDM). Wood Buys the Dip in Absci Stock On July 25, Wood loaded up on 2.25 million shares of Absci, totaling $6.2 million. Absci leverages generative artificial intelligence (AI) and synthetic biology to develop novel biologic drugs, primarily antibodies, for pharmaceutical and biotechnology partners. ABSI stock plunged 17.7% on Friday after the company announced a $50 million secondary offering of its common shares. Wood seems to have capitalized on the 'dip' in Absci shares to gain a notable position. All seven analysts tracking ABSI stock have rated it a Strong Buy on TipRanks. The average Absci price target of $9.17 implies an impressive 217.3% upside potential from current levels. Year-to-date, ABSI stock has gained 10.3%. Why Is Wood Dumping CRSP Stock? Wood appears to have taken a bearish stance on gene-editing company Crispr, although she maintains a rather optimistic outlook on the overall genomics sector. On Friday, The ARK Innovation ETF (ARKK) sold 190,840 shares of Crispr worth $12.6 million, and the ARK Genomic Revolution ETF (ARKG) sold another 58,268 shares of CRSP for $3.8 million. Crispr is a Swiss-American biotech company focused on developing transformative gene-based medicines to treat serious diseases such as sickle cell disease, beta-thalassemia, various cancers, type 1 diabetes, and cardiovascular diseases. It uses advanced gene-editing technology, primarily its CRISPR/Cas9 platform, to develop its medicines. Despite the latest sale, CRSP remains the largest holding in the ARKG fund, with a market value of $137.5 million, and is also the fourth largest holding in the ARKK fund, with a market value of $450.6 million. Notably, CRSP stock has surged over 64% so far this year, backed by its revolutionary business model. Crispr is expected to release its Q2FY25 results in August. Wall Street expects CRSP to report a diluted loss of $1.4 per share, 1.3% better than the prior year's loss of $1.49. Revenues are expected to jump nearly 1100% year-over-year to $6.14 million. On TipRanks, CRSP stock has a Moderate Buy consensus rating based on 14 Buys and seven Hold ratings. Also, the average Crispr Therapeutics price target of $69.38 implies 7.1% upside potential from current levels. Year-to-date, CRSP stock has soared 64.5%.
Yahoo
14-05-2025
- Business
- Yahoo
Absci Corp (ABSI) Q1 2025 Earnings Call Highlights: Transition to Clinical Stage and Strong ...
Revenue: $1.2 million for Q1 2025. Research and Development Expenses: $16.4 million for Q1 2025, up from $12.2 million in the prior year period. Selling, General and Administrative Expenses: $9.5 million for Q1 2025, compared to $8.7 million in the prior year period. Cash, Cash Equivalents, and Short-term Investments: $134 million as of March 31, 2025, up from $112.4 million as of December 31, 2024. Projected Cash Runway: Sufficient to fund operations into the first half of 2027. Warning! GuruFocus has detected 4 Warning Signs with ABSI. Release Date: May 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Absci Corp (NASDAQ:ABSI) has initiated its first in-human clinical trial for ABS-101, marking its transition to a clinical-stage biotech company. The company has a robust pipeline, including ABS-201 for androgenetic alopecia, which shows promising pre-clinical results and is advancing towards clinical trials. ABS-101 has demonstrated high affinity, potency, and low immunogenicity in pre-clinical studies, with interest from potential partners. Absci Corp (NASDAQ:ABSI) is leveraging its AI platform to rapidly engineer therapeutics, showcasing its capability to design novel antibodies. The company has a strong financial position with $134 million in cash and investments, sufficient to fund operations into the first half of 2027. Research and development expenses increased significantly to $16.4 million, driven by internal program advancements and personnel costs. The company reported a relatively low revenue of $1.2 million for the first quarter, indicating a reliance on future partnerships and collaborations. There is uncertainty regarding the timeline for nominating a drug candidate for ABS-301, as in vivo studies are still ongoing. The competitive landscape for ABS-501, targeting HER2, is crowded, posing challenges for differentiation. Absci Corp (NASDAQ:ABSI) has not disclosed specific timelines for potential milestones or partnerships, creating uncertainty for investors. Q: Regarding ABS-101, what are you hoping to see in the Phase 1 top line in the second half of the year in terms of decay and immunogenicity endpoints as well as any other metrics you may be looking at? A: Sean McClain, CEO: We're looking for a strong safety profile and target engagement similar to previous data. Christian Stegmann, SVP of Drug Creation, added that they aim to validate the extended half-life and low immunogenicity, demonstrating target engagement over an extended period. Q: Regarding ABS-201, do you think this product can potentially be self-administered in the future? A: Sean McClain, CEO: Yes, we believe it can be self-administered eventually. Initially, we plan to work with dermatologists to ensure effective administration. Q: How are you thinking about potential market segmentation for ABS-201? A: Zach Jonasson, CFO: We believe the mechanism could be efficacious across various segments of androgenetic alopecia. We plan to explore this in a Phase 1 trial with a broad age range and both genders. Christian Stegmann added that there is potential beyond alopecia, such as in endometriosis. Q: Can you provide initial thoughts on the type of dosing for ABS-201 in humans and systemic exposure observed in the NHP model? A: Christian Stegmann, SVP of Drug Creation: We anticipate dosing every 8 to 12 weeks, which is attractive for androgenetic alopecia. Full pharmacokinetic data will be disclosed later at a scientific venue. Q: When can we expect the development candidate for ABS-301 to be shared? A: Sean McClain, CEO: We are progressing towards a drug candidate and are currently conducting in vivo studies. We have not disclosed a specific timeline for the candidate nomination. Q: Can you elaborate on the combo strategy with ABS-101 and the partnership with AstraZeneca? A: Sean McClain, CEO: We see a trend towards combo-based approaches, which could enhance efficacy and durability. We are pursuing a bi-specific strategy with a novel arm. Zach Jonasson, CFO, noted that specific partnership details are confidential. Q: As ABS-101 and ABS-201 progress, how do you view future partnerships and cost structure flexibility? A: Zach Jonasson, CFO: We anticipate improved deal terms due to platform validation and advancements. We continually seek efficiencies in our AI platform to optimize resource allocation and cost structure. Q: How does Absci plan to leverage AI for safety predictions as the FDA shifts towards minimizing animal use? A: Sean McClain, CEO: We are excited about the FDA's direction and believe our AI models, like the naturalness model, provide a significant advantage in reducing immunogenicity and aligning with regulatory trends. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
13-05-2025
- Business
- Yahoo
Absci Corporation (ABSI) Reports Q1 Loss, Misses Revenue Estimates
Absci Corporation (ABSI) came out with a quarterly loss of $0.21 per share versus the Zacks Consensus Estimate of a loss of $0.23. This compares to loss of $0.22 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 8.70%. A quarter ago, it was expected that this company would post a loss of $0.22 per share when it actually produced a loss of $0.25, delivering a surprise of -13.64%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. Absci Corporation , which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $1.18 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 43.86%. This compares to year-ago revenues of $0.9 million. The company has not been able to beat consensus revenue estimates over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Absci Corporation shares have added about 11.8% since the beginning of the year versus the S&P 500's decline of -0.6%. While Absci Corporation has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Absci Corporation: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.23 on $3 million in revenues for the coming quarter and -$0.77 on $17.31 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Biomedical and Genetics is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Bionano Genomics, Inc. (BNGO), another stock in the same industry, has yet to report results for the quarter ended March 2025. The results are expected to be released on May 14. This company is expected to post quarterly loss of $3.49 per share in its upcoming report, which represents a year-over-year change of +90.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Bionano Genomics, Inc.'s revenues are expected to be $6.3 million, down 28.2% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Absci Corporation (ABSI) : Free Stock Analysis Report Bionano Genomics, Inc. (BNGO) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
24-03-2025
- Health
- Associated Press
Autism Behavior Services, Inc. President Visits Texas to Advocate for Expanded Autism Care
'We are proud to recognize Texas as a key partner as we champion the expansion of autism care, ensuring families across the state can access much-needed resources and support.' — Andrew Patterson, President of ABSI. SANTA ANA, CA, UNITED STATES, March 24, 2025 / / -- Autism Behavior Services, Inc. (ABSI) President, Andrew Patterson visited the great state of Texas in late February to advocate for expanding access to autism care services. During his visit, Andrew engaged with key lawmakers to discuss increasing the availability of essential services for families and demonstrate the success of Texas as a partner in bringing quality autism care center to those who need it most. Andrew Patterson and his son Jack Patterson had the privilege to meet with Representative Charles Cunningham, who serves on the Health Committee to discuss access for autism services. 'Texas is renowned for its commitment to providing strong special needs services,' said Andrew Patterson, President of ABSI. 'We are proud to recognize Texas as a key partner as we champion the expansion of autism care, ensuring families across the state can access much-needed resources and support.' Autism Behavior Services, Inc. was founded by Dr. Rosa Patterson, Psy.D., in 2010 with the mission of improving the quality of life for individuals on the autism spectrum. ABSI offers industry-leading Applied Behavior Analysis (ABA) services, employing a highly trained team of Behavior Technicians, all certified in CPR and either ABAT or RBT, ensuring the highest standard of care for their clients. The visit to Texas focused on two critical advocacy points: ● Expanding Access to Families in Need: Advocating for more policies that will help families across Texas receive affordable, top-quality care to improve outcomes for children on the autism spectrum. ● Celebrating Collaboration and Progress: Highlighting Texas' role as a strong partner in ABSI's mission to expand access to care, setting an example for other states nationwide. Autism Treatment in Austin include individualized program development, home, school, virtual-based interventions, parent training, and direct care in community settings. With a proven track record of excellence, ABSI brings tailored care and evidence-based solutions to families, empowering children on the spectrum to reach their highest potential. The visit aligns with ABSI's goal of bridging gaps in access to care through collaboration with stakeholders, parents, and lawmakers. His efforts reinforce the agency's belief that every child deserves access to best-in-class care, regardless of geographical or financial barriers. For questions or media inquiries, please contact: Autism Behavior Services, Inc. Email: [email protected] Phone: (877) 581-7798 Address: 2080 N. Tustin Ave, Santa Ana, CA 92705 For more information on Autism Behavior Services, Inc. please visit Evan Jacobs Autism Behavior Services, Inc.: +1 855-581-0100 email us here Legal Disclaimer:
Yahoo
01-03-2025
- Business
- Yahoo
Why Absci Corporation (ABSI) is Skyrocketing So Far in 2025
We recently published an article titled . In this article, we are going to take a look at where Absci Corporation (NASDAQ:ABSI) stands against the other biotech stocks. No matter the market environment, you'll always find entertainment in the biotech space. There will always be biotech stocks making huge swings in both directions and these stocks can make or break your portfolio in a very small amount of time due to the nature of how important clinical trial results are for these companies. The United Nations forecasts that the over-65 age group will grow by 150% from 800 million in 2024 to 2 billion by 2067. This "older, richer & sicker" population is expected to push global healthcare spending on medicines up 12% to $2.3 trillion by 2028. If you combine that with AI making breakthroughs in healthcare more frequent, you'll see many more biotech stocks starting to pop to the upside over the coming years. For this article, I screened the top-performing biotech stocks year-to-date. I will also mention the number of hedge fund investors in these stocks. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). A scientist in a lab, focused on a molecular microscope with biologic drug candidates. Number of Hedge Fund Holders In Q4 2024: 18 Absci Corporation (NASDAQ:ABSI) sells itself as an AI-integrated drug company. The stock is up significantly so far in 2025 as it announced a collaboration with AMD. This included a $20 million strategic investment from AMD through private investment in public equity (PIPE) and will involve deploying AMD Instinct™ accelerators and ROCm™ software to power Absci's AI drug discovery workloads. It also partnered up with Invetx in January and advanced its ABS-101 drug and has plans to submit an Investigational New Drug application in Q1 2025. The consensus price target of $8.57 implies 112.16% upside. Absci Corporation (NASDAQ:ABSI) is up 54.58% year-to-date. Overall ABSI ranks 10th on our list of the biotech stocks that are skyrocketing so far in 2025. While we acknowledge the potential of ABSI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ABSI but that trades at less than 5 times its earnings, check out our report about the . READ NEXT: Why These 15 E-Commerce Stocks Are Skyrocketing So Far In 2025 and Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
