Arbutus Biopharma (NASDAQ:ABUS) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Arbutus Biopharma (NASDAQ:ABUS) from a hold rating to a sell rating in a research note published on Tuesday morning.

ABUS has been the subject of a number of other reports. JMP Securities boosted their price target on Arbutus Biopharma to $5.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Chardan Capital reiterated a “buy” rating and issued a $5.00 price target (up from $4.50) on shares of Arbutus Biopharma in a report on Wednesday, November 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $5.00 price target on shares of Arbutus Biopharma in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Arbutus Biopharma currently has an average rating of “Moderate Buy” and an average target price of $5.50.

Arbutus Biopharma Price Performance

NASDAQ ABUS opened at $3.37 on Tuesday. The firm has a market capitalization of $638.58 million, a P/E ratio of -7.84 and a beta of 1.78. Arbutus Biopharma has a 1-year low of $2.30 and a 1-year high of $4.72. The business’s 50-day simple moving average is $3.31 and its 200-day simple moving average is $3.66.

Hedge Funds Weigh In On Arbutus Biopharma

Several hedge funds and other institutional investors have recently modified their holdings of ABUS. Creative Planning boosted its holdings in shares of Arbutus Biopharma by 13.8% during the third quarter. Creative Planning now owns 49,500 shares of the biopharmaceutical company’s stock valued at $191,000 after acquiring an additional 5,989 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Arbutus Biopharma by 63.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 36,309 shares of the biopharmaceutical company’s stock valued at $140,000 after acquiring an additional 14,138 shares during the period. Intech Investment Management LLC acquired a new position in shares of Arbutus Biopharma during the third quarter valued at $142,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Arbutus Biopharma by 218.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,212,246 shares of the biopharmaceutical company’s stock valued at $4,667,000 after acquiring an additional 831,663 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Arbutus Biopharma by 453.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,503 shares of the biopharmaceutical company’s stock valued at $144,000 after acquiring an additional 30,723 shares during the period. Institutional investors and hedge funds own 43.79% of the company’s stock.

Arbutus Biopharma Company Profile

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection in the United States. Its HBV product pipeline consists of imdusiran (AB-729), a proprietary subcutaneously-delivered RNAi therapeutic product candidate that suppresses all HBV antigens, including HBsAg expression.