Arbutus Biopharma Corporation (ABUS) Sets New 12-Month High at $4.86
Shares of Arbutus Biopharma Corporation (NASDAQ:ABUS) reached a new 52-week high on Friday . The company traded as high as $4.86 and last traded at $4.90, with a volume of 248,944 shares traded. The stock had previously closed at $4.75.
Several analysts have recently commented on ABUS shares. Zacks Investment Research cut Arbutus Biopharma Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Ladenburg Thalmann Financial Services started coverage on Arbutus Biopharma Corporation in a report on Friday, June 2nd. They issued a “buy” rating and a $32.00 price target for the company. Finally, Chardan Capital reissued a “buy” rating on shares of Arbutus Biopharma Corporation in a report on Monday, August 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $12.81.
The company’s 50 day moving average is $3.91 and its 200-day moving average is $3.51. The firm’s market capitalization is $272.38 million.
In other news, insider Michael J. Sofia sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $3.70, for a total transaction of $111,000.00. Following the completion of the transaction, the insider now directly owns 1,563,403 shares in the company, valued at $5,784,591.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 10.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can boosted its position in shares of Arbutus Biopharma Corporation by 1.9% during the second quarter. Bank of Montreal Can now owns 874,254 shares of the biopharmaceutical company’s stock worth $3,147,000 after buying an additional 16,535 shares during the period. OxFORD Asset Management LLP boosted its position in shares of Arbutus Biopharma Corporation by 89.9% during the second quarter. OxFORD Asset Management LLP now owns 83,310 shares of the biopharmaceutical company’s stock worth $300,000 after buying an additional 39,436 shares during the period. Vanguard Group Inc. boosted its position in shares of Arbutus Biopharma Corporation by 2.7% during the second quarter. Vanguard Group Inc. now owns 77,413 shares of the biopharmaceutical company’s stock worth $279,000 after buying an additional 2,035 shares during the period. Victory Capital Management Inc. acquired a new position in shares of Arbutus Biopharma Corporation during the second quarter worth approximately $478,000. Finally, Renaissance Technologies LLC boosted its position in shares of Arbutus Biopharma Corporation by 785.1% during the first quarter. Renaissance Technologies LLC now owns 124,573 shares of the biopharmaceutical company’s stock worth $405,000 after buying an additional 110,499 shares during the period. Institutional investors and hedge funds own 67.06% of the company’s stock.
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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