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

Arbutus Biopharma (NASDAQ:ABUS) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Tuesday.

Several other research analysts have also recently issued reports on ABUS. JMP Securities raised their target price on shares of Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Chardan Capital reissued a “buy” rating and set a $5.00 target price (up previously from $4.50) on shares of Arbutus Biopharma in a report on Wednesday, November 20th. Finally, HC Wainwright reissued a “buy” rating and set a $5.00 target price 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’s stock. Based on data from MarketBeat, Arbutus Biopharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

Arbutus Biopharma Trading Up 3.3 %

Shares of NASDAQ ABUS traded up $0.11 during midday trading on Tuesday, reaching $3.45. The company had a trading volume of 3,530,405 shares, compared to its average volume of 772,056. The business’s 50-day simple moving average is $3.31 and its 200 day simple moving average is $3.66. Arbutus Biopharma has a 1 year low of $2.30 and a 1 year high of $4.72. The stock has a market cap of $653.74 million, a P/E ratio of -8.02 and a beta of 1.78.

Institutional Trading of Arbutus Biopharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABUS. State Street Corp grew its position in Arbutus Biopharma by 50.2% during the third quarter. State Street Corp now owns 4,407,133 shares of the biopharmaceutical company’s stock valued at $16,967,000 after buying an additional 1,472,652 shares during the period. Rangeley Capital LLC acquired a new stake in shares of Arbutus Biopharma in the fourth quarter valued at about $4,771,000. Charles Schwab Investment Management Inc. grew its position in shares of Arbutus Biopharma by 218.5% in 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 purchasing an additional 831,663 shares during the period. JPMorgan Chase & Co. grew its position in shares of Arbutus Biopharma by 900.4% in the fourth quarter. JPMorgan Chase & Co. now owns 896,258 shares of the biopharmaceutical company’s stock valued at $2,931,000 after purchasing an additional 806,672 shares during the period. Finally, Whitefort Capital Management LP grew its position in shares of Arbutus Biopharma by 2.9% in the fourth quarter. Whitefort Capital Management LP now owns 13,241,916 shares of the biopharmaceutical company’s stock valued at $43,301,000 after purchasing an additional 373,949 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.