Abcam (NASDAQ:ABCM) Reaches New 52-Week High at $22.59

Abcam plc (NASDAQ:ABCM – Get Rating)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $22.59 and last traded at $21.97, with a volume of 2124514 shares traded. The stock had previously closed at $20.28.

Analyst Upgrades and Downgrades

ABCM has been the subject of several research reports. Bank of America raised Abcam from a “neutral” rating to a “buy” rating in a research note on Friday, June 16th. Royal Bank of Canada cut Abcam from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, June 20th.

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Abcam Stock Performance

The stock has a 50 day moving average price of $17.42 and a two-hundred day moving average price of $15.77.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ABCM. 1832 Asset Management L.P. acquired a new stake in Abcam in the 1st quarter valued at approximately $32,000. Belpointe Asset Management LLC grew its holdings in Abcam by 72.0% in the 1st quarter. Belpointe Asset Management LLC now owns 2,568 shares of the company’s stock valued at $35,000 after buying an additional 1,075 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Abcam by 820.0% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 2,898 shares of the company’s stock worth $39,000 after purchasing an additional 2,583 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Abcam by 41.4% during the 4th quarter. Van ECK Associates Corp now owns 3,536 shares of the company’s stock worth $55,000 after purchasing an additional 1,035 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Abcam by 48.7% during the 1st quarter. JPMorgan Chase & Co. now owns 3,044 shares of the company’s stock worth $56,000 after purchasing an additional 997 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Abcam Company Profile

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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.

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