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.
https://investorplace.com/2024/01/why-is-atreca-bcel-stock-up-85-today/
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