Abcam (NASDAQ:ABCM) Shares Gap Down to $19.10

Abcam plc (NASDAQ:ABCM) shares gapped down before the market opened on Friday . The stock had previously closed at $19.10, but opened at $18.57. Abcam shares last traded at $18.60, with a volume of 270 shares trading hands.

Several brokerages have recently weighed in on ABCM. Berenberg Bank restated a “hold” rating on shares of Abcam in a research note on Friday, March 12th. SVB Leerink reduced their price target on Abcam from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, March 9th. Zacks Investment Research lowered shares of Abcam from a “hold” rating to a “sell” rating in a research note on Monday, May 10th. Royal Bank of Canada reissued an “outperform” rating on shares of Abcam in a research report on Tuesday, March 9th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Abcam in a report on Tuesday, March 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Abcam presently has an average rating of “Hold” and an average target price of $22.00.

The stock has a market cap of $4.24 billion and a price-to-earnings ratio of 90.95. The company has a 50-day moving average price of $20.22.

A number of institutional investors have recently bought and sold shares of ABCM. Citigroup Inc. bought a new stake in Abcam during the 4th quarter worth about $34,000. Sowell Financial Services LLC acquired a new position in Abcam during the 1st quarter valued at about $37,000. JPMorgan Chase & Co. bought a new position in shares of Abcam in the 4th quarter valued at about $91,000. Optiver Holding B.V. acquired a new stake in shares of Abcam during the 1st quarter worth approximately $104,000. Finally, Park Avenue Securities LLC bought a new stake in shares of Abcam during the first quarter worth approximately $200,000. 9.09% of the stock is currently owned by institutional investors.

About Abcam (NASDAQ:ABCM)

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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