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Abcam deputy chairman offloads shares

Shares in the life sciences company have tumbled since it announced expansions plans alongside its full-year results in September
Abcam deputy chairman offloads shares

Expansion plans from life sciences company Abcam (ABC) have not been met with a warm welcome from investors. Management is planning to spend between £175m and £225m between now and 2024 on growth initiatives, including further antibody innovation and expansion into adjacent life sciences markets. In doing so it’s hoping to nearly double its revenue to £450m-£500m over the next five years, but this will come at the expense of the adjusted cash profit margin, expected to be squeezed from 35.6 per cent to 32-35 per cent in FY2020.

IC TIP: Hold at 1096p

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