William Blair Investment Management LLC Decreases Holdings in Abcam plc (NASDAQ:ABCM)

William Blair Investment Management LLC trimmed its position in shares of Abcam plc (NASDAQ:ABCM) by 3.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,850,889 shares of the company’s stock after selling 58,651 shares during the period. William Blair Investment Management LLC owned about 0.81% of Abcam worth $24,914,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Durable Capital Partners LP raised its holdings in shares of Abcam by 3,392.1% during the 4th quarter. Durable Capital Partners LP now owns 17,460,597 shares of the company’s stock valued at $271,687,000 after buying an additional 16,960,597 shares in the last quarter. Morgan Stanley increased its stake in Abcam by 1,910.1% in the 4th quarter. Morgan Stanley now owns 7,516,979 shares of the company’s stock worth $116,964,000 after purchasing an additional 7,143,012 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in Abcam in the 4th quarter worth approximately $98,245,000. T. Rowe Price Investment Management Inc. increased its stake in Abcam by 44.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,090,386 shares of the company’s stock worth $94,767,000 after purchasing an additional 1,882,321 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Abcam by 2,741.0% in the 4th quarter. Alliancebernstein L.P. now owns 5,900,581 shares of the company’s stock worth $91,813,000 after purchasing an additional 5,692,888 shares during the period. 90.45% of the stock is owned by hedge funds and other institutional investors.

Abcam Price Performance

ABCM opened at $22.83 on Friday. Abcam plc has a 52-week low of $12.48 and a 52-week high of $25.32. The stock’s 50 day moving average price is $23.18 and its 200-day moving average price is $18.37.

Analyst Ratings Changes

A number of equities analysts have commented on ABCM shares. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Abcam in a research note on Tuesday, August 22nd. SVB Leerink cut Abcam from an “outperform” rating to a “market perform” rating in a research note on Tuesday. William Blair cut Abcam from an “outperform” rating to a “market perform” rating in a research note on Monday, August 28th. Bank of America raised Abcam from a “neutral” rating to a “buy” rating in a research note on Friday, June 16th. Finally, SVB Securities cut Abcam from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Abcam currently has a consensus rating of “Hold” and a consensus price target of $23.00.

Abcam Company Profile

Abcam plc, a life science company, focuses on identifying, developing, and distributing reagents and tools for scientific research, diagnostics, and drug discovery. The company's principal products include primary and secondary antibodies; conjugated antibodies and conjugation kits; singleplex immunoassays; proteins and peptides that include cytokines; edited cell lines and lysates; and various other products, including cellular activity kits, biochemicals, and cell signaling pathway tools.