Yarbrough Capital LLC Buys New Position in Abcam plc (NASDAQ:ABCM)

Yarbrough Capital LLC purchased a new stake in Abcam plc (NASDAQ:ABCM) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 20,594 shares of the company’s stock, valued at approximately $504,000.

Other hedge funds have also modified their holdings of the company. ProShare Advisors LLC acquired a new stake in shares of Abcam during the first quarter worth $200,000. New York State Common Retirement Fund increased its position in shares of Abcam by 71.1% during the first quarter. New York State Common Retirement Fund now owns 13,258 shares of the company’s stock worth $178,000 after acquiring an additional 5,510 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Abcam in the first quarter valued at about $919,000. State Street Corp bought a new position in shares of Abcam during the first quarter valued at approximately $2,990,000. Finally, Geode Capital Management LLC grew its holdings in shares of Abcam by 734.8% during the first quarter. Geode Capital Management LLC now owns 106,049 shares of the company’s stock valued at $1,427,000 after purchasing an additional 93,346 shares during the last quarter. 90.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABCM has been the subject of several analyst reports. SVB Leerink downgraded Abcam from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 29th. William Blair downgraded shares of Abcam from an “outperform” rating to a “market perform” rating in a research note on Monday, August 28th. Royal Bank of Canada restated a “sector perform” rating on shares of Abcam in a report on Tuesday, August 22nd. Bank of America upgraded shares of Abcam from a “neutral” rating to a “buy” rating in a research note on Friday, June 16th. Finally, SVB Securities lowered shares of Abcam from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 29th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $23.00.

Abcam Price Performance

NASDAQ ABCM traded down $0.02 on Tuesday, reaching $22.63. The company had a trading volume of 1,881,700 shares, compared to its average volume of 2,184,714. The company’s fifty day moving average is $22.94 and its 200-day moving average is $19.07. Abcam plc has a 1-year low of $12.48 and a 1-year high of $25.32.

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.