Arbutus Biopharma Corporation (ABUS) Sets New 12-Month High at $4.60
Arbutus Biopharma Corporation (NASDAQ:ABUS)’s share price reached a new 52-week high on Thursday . The company traded as high as $4.60 and last traded at $4.56, with a volume of 152,092 shares. The stock had previously closed at $4.45.
A number of research firms recently weighed in on ABUS. Chardan Capital reaffirmed a “buy” rating on shares of Arbutus Biopharma Corporation in a research report on Monday, August 7th. Zacks Investment Research raised shares of Arbutus Biopharma Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Finally, Ladenburg Thalmann Financial Services assumed coverage on shares of Arbutus Biopharma Corporation in a research report on Friday, June 2nd. They issued a “buy” rating and a $32.00 price target for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $12.81.
The firm’s market capitalization is $258.62 million. The company’s 50-day moving average is $3.82 and its 200 day moving average is $3.46.
In other news, insider Michael J. Sofia sold 30,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $3.70, for a total value of $111,000.00. Following the completion of the sale, the insider now owns 1,563,403 shares of the company’s stock, valued at $5,784,591.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 10.00% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Arbutus Biopharma Corporation by 2.7% in the second quarter. Vanguard Group Inc. now owns 77,413 shares of the biopharmaceutical company’s stock valued at $279,000 after purchasing an additional 2,035 shares during the period. OxFORD Asset Management LLP boosted its stake in shares of Arbutus Biopharma Corporation by 89.9% in the second quarter. OxFORD Asset Management LLP now owns 83,310 shares of the biopharmaceutical company’s stock valued at $300,000 after purchasing an additional 39,436 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Arbutus Biopharma Corporation by 785.1% in the first quarter. Renaissance Technologies LLC now owns 124,573 shares of the biopharmaceutical company’s stock valued at $405,000 after purchasing an additional 110,499 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Arbutus Biopharma Corporation in the second quarter valued at $478,000. Finally, Bank of Montreal Can boosted its stake in shares of Arbutus Biopharma Corporation by 1.9% in the second quarter. Bank of Montreal Can now owns 874,254 shares of the biopharmaceutical company’s stock valued at $3,147,000 after purchasing an additional 16,535 shares during the period. 67.06% of the stock is owned by institutional investors.
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About Arbutus Biopharma Corporation
Arbutus Biopharma Corporation, formerly Tekmira Pharmaceuticals Corporation, is a therapeutic solutions company. The Company is engaged in discovering, developing and commercializing a cure for patients suffering from chronic hepatitis B infection (HBV), a disease of the liver caused by the hepatitis B virus (HBV).
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