Atreca (NASDAQ:BCEL) stock is rising higher on Thursday following news of a major stake in the clinical-stage biopharmaceutical company from an investment advisor.
According to a filing with the U.S. Securities and Exchange Commission (SEC), Baker Bros. Advisors LP now holds a 19.9% stake in the company. This comes through a mix of Class A shares of BCEL stock and Class B shares that can be converted to Class A shares.
Atreca notes that the ability to convert Class B shares to Class A shares with a limitation of a 19.99% stake in the company will go into effect on Feb. 21, 2024. Prior to this, Baker Bros. Advisors LP was limited to holding a 4.99% stake in the company.
How This Affects BCEL Stock Today
Investors are seeing heavy trading of BCEL stock on Thursday alongside the Baker Bros. Advisors LP stake news. That has more than 20 million shares changing hands as of this writing. That’s already well above the company’s daily average trading volume of about 2.6 million shares.
BCEL stock is up 84.6% as of Thursday morning.
Investors who are searching for more of the most recent stock market news are in luck!
We have all of the latest stock market stories worth reading about on Thursday! That includes the biggest pre-market stock movers this morning, the latest news concerning Mullen Automotive (NASDAQ:MULN) stock and more. All of that news is ready to go at the links below!
More Thursday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- MULN Stock: Mullen Seeks $50 Million Loan from Department of Energy
- RUM Stock Alert: The SEC Is Investigating Rumble
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
