Redmile Group Reduces Stake in Absci Corp, Ceases to be 5% Owner
Summary
Institutional investor Redmile Group sold approximately $1.93 million worth of Absci Corp shares, reducing its stake below 5% beneficial ownership.
Key Events
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Stake Reduction
Redmile Group, LLC sold 645,867 shares of Absci Corp common stock on April 10, 2026.
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Transaction Value
The shares were sold for a weighted average price of $2.979 per share, totaling approximately $1.93 million.
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Ownership Threshold Change
Following the sale, Redmile Group and Jeremy C. Green ceased to be 5% beneficial owners of Absci Corp as of April 10, 2026.
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Filer Identity
Redmile Group, LLC is an investment manager, and Jeremy C. Green is its managing member.
Analysis
Redmile Group, a significant institutional investor, has reduced its ownership in Absci Corp by selling shares worth approximately $1.93 million. This transaction caused Redmile Group and its managing member, Jeremy C. Green, to fall below the 5% beneficial ownership threshold. While the sale is not a full exit, the reduction in a major institutional investor's stake could be perceived negatively by the market, signaling a decreased conviction in the company's near-term prospects.
At the time of this filing, ABSI was trading at $3.14 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $482M. The 52-week trading range was $2.24 to $5.23. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.