SCHEDULE: Redmile Group's Absci Stake Dips to 5.4% Amid Dilution

Redmile Group, LLC and Jeremy C. Green reported a decrease in their beneficial ownership of Absci Corporation common stock to 5.4% due to an increase in the issuer's outstanding shares.

Summary

• Redmile Group, LLC and Jeremy C. Green filed Amendment No. 3 to their Schedule 13D, updating their beneficial ownership in Absci Corporation.
• The reporting persons now beneficially own an aggregate of 8,253,316 shares of Absci Corporation common stock.
• This ownership represents 5.4% of the total outstanding common stock of Absci Corporation.
• The decrease in their beneficial ownership percentage is primarily due to an increase in Absci Corporation's outstanding common stock, as disclosed in the company's annual report for the fiscal year ended December 31, 2025.
• The percentage calculation is based on 153,021,263 shares of common stock outstanding as of March 6, 2026.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this as a slightly negative development for existing shareholders due to the implied dilution, although it's a routine disclosure for a Schedule 13D/A and doesn't necessarily reflect a change in Redmile's investment thesis, only its relative stake.

Negatives

• Redmile Group, LLC and Jeremy C. Green's beneficial ownership percentage in Absci Corporation decreased to 5.4%.
• The decrease in ownership percentage was primarily due to an increase in Absci Corporation's outstanding common stock, indicating dilution for existing shareholders.

Risks

• Dilution of existing shareholder value due to an increase in the number of outstanding shares.

Future Outlook

No specific future outlook or guidance is provided in this Schedule 13D/A filing.

Industry Context

StockSavvy.ai notes that a decrease in a significant institutional investor's percentage ownership, especially due to dilution, is a common occurrence in growth-oriented biotech companies like Absci Corporation, which often raise capital to fund research and development, leading to an increased share count. This can impact investor sentiment regarding the company's capital structure and future funding needs.

Comparison to Industry Standards

• This filing primarily reports a change in beneficial ownership percentage due to dilution, which is a standard outcome when companies issue new shares.
• There are no specific operational or financial results to compare against industry benchmarks or competitors like Moderna, BioNTech, or other early-stage biopharma companies.
• The 5.4% stake held by Redmile Group, a prominent healthcare investor, remains a notable position, though its reduced percentage indicates a relative decrease in influence compared to its prior holdings.

Stakeholder Impact

• Shareholders: Existing shareholders experience dilution as the total number of outstanding shares has increased, reducing their proportional ownership.
• Redmile Group, LLC and Jeremy C. Green: Their relative influence and stake in Absci Corporation have decreased.

Key Dates

Recommendation

While the filing indicates dilution and a reduced percentage stake for a key investor, it is a routine disclosure for a Schedule 13D/A and does not provide new fundamental information about Absci Corporation's operational performance or strategic direction. The reduction in percentage ownership is a consequence of the company's increased share count, which is common for growth companies. Without further information on the underlying reasons for the share increase (e.g., specific capital raise details, use of proceeds), a "hold" recommendation is appropriate, maintaining current positions while awaiting more comprehensive financial updates from Absci Corporation.

Keywords

Absci Corporation, Redmile Group, Jeremy C. Green, Schedule 13D/A, beneficial ownership, common stock, dilution, SEC filing, investment manager, biotech, biopharma