Here’s Why Abcam plc (ABCM) Rose in Q2

Harding Loevner, an asset management company, released its “Global Equity Strategy” second-quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the strategy returned 8.02% net of fees compared to a 6.35% return for the MSCI All Country World Index and 7% for the MSCI World Index. Slowing inflation and a surge in optimism about the potential of AI boosted global equity markets. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Harding Loevner Global Equity Strategy highlighted stocks like Abcam plc (NASDAQ:ABCM) in the second quarter 2023 investor letter. Headquartered in Cambridge, the United Kingdom, Abcam plc (NASDAQ:ABCM) is a life science company. On September 21, 2023, Abcam plc (NASDAQ:ABCM) stock closed at $22.59 per share. One-month return of Abcam plc (NASDAQ:ABCM) was -3.30%, and its shares gained 54.41% of their value over the last 52 weeks. Abcam plc (NASDAQ:ABCM) has a market capitalization of $5.189 billion.

Harding Loevner Global Equity Strategy made the following comment about Abcam plc (NASDAQ:ABCM) in its Q2 2023 investor letter:

“We also saw strong returns in Europe. Abcam plc (NASDAQ:ABCM), a supplier of antibodies and other essential tools for life scientists, is reportedly attracting takeover interest as an activist investor-who is also the company’s retired founder-puts pressure on the board to improve performance.”

Abcam plc (NASDAQ:ABCM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 25 hedge fund portfolios held Abcam plc (NASDAQ:ABCM) at the end of second quarter which was 14 in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.