Envestnet Asset Management Inc. Purchases 13,184 Shares of Abcam plc (NASDAQ:ABCM)

Envestnet Asset Management Inc. lifted its stake in Abcam plc (NASDAQ:ABCM) by 20.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,681 shares of the company’s stock after acquiring an additional 13,184 shares during the period. Envestnet Asset Management Inc.’s holdings in Abcam were worth $1,479,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ABCM. Sowell Financial Services LLC purchased a new stake in shares of Abcam in the first quarter worth $37,000. Optiver Holding B.V. purchased a new stake in shares of Abcam in the first quarter worth $104,000. Comerica Bank purchased a new stake in shares of Abcam in the first quarter worth $215,000. Fred Alger Management LLC purchased a new stake in Abcam during the first quarter valued at about $326,000. Finally, Royal Bank of Canada raised its position in Abcam by 11.1% during the first quarter. Royal Bank of Canada now owns 30,312 shares of the company’s stock valued at $583,000 after purchasing an additional 3,039 shares in the last quarter. 10.16% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:ABCM opened at $20.52 on Tuesday. The stock’s 50-day moving average price is $19.91 and its 200-day moving average price is $19.96. Abcam plc has a 12-month low of $17.14 and a 12-month high of $24.69. The stock has a market capitalization of $4.65 billion and a P/E ratio of 114.00.

ABCM has been the topic of a number of research reports. Berenberg Bank restated a “hold” rating on shares of Abcam in a research report on Thursday, June 24th. Zacks Investment Research downgraded Abcam from a “hold” rating to a “sell” rating in a research report on Thursday, September 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.00.

Abcam Company Profile

Abcam plc, a life sciences company, researches, develops, and distributes biological reagents and tools for research, drug discovery, and diagnostics in the United States, China, Japan, Europe, the Middle East, Africa, and rest of Asia Pacific. The company offers various research products, including primary and secondary antibodies; ELISA and matched antibody pairs; cell and tissue imaging tools; cellular and biochemical assays; proteins and peptides; proteomics tools; agonists, antagonists, activators, and inhibitors; lysates; and multiplex assays.

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Institutional Ownership by Quarter for Abcam (NASDAQ:ABCM)

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