Arbutus Biopharma Corporation’s (ABUS) Outperform Rating Reiterated at Wedbush
Wedbush reissued their outperform rating on shares of Arbutus Biopharma Corporation (NASDAQ:ABUS) in a report issued on Wednesday. Wedbush currently has a $9.00 target price on the biopharmaceutical company’s stock.
ABUS has been the subject of several other reports. Ladenburg Thalmann Financial Services initiated coverage on Arbutus Biopharma Corporation in a report on Friday, June 2nd. They set a buy rating and a $32.00 price target for the company. Zacks Investment Research upgraded Arbutus Biopharma Corporation from a sell rating to a hold rating in a report on Monday, July 10th. Finally, Chardan Capital reiterated a buy rating on shares of Arbutus Biopharma Corporation in a report on Wednesday, September 13th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $12.56.
Arbutus Biopharma Corporation (ABUS) opened at 6.55 on Wednesday. The stock’s market cap is $360.42 million. Arbutus Biopharma Corporation has a 12-month low of $2.35 and a 12-month high of $7.00. The company has a 50-day moving average of $4.08 and a 200 day moving average of $3.58.
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In related 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 value of $111,000.00. Following the completion of the sale, the insider now directly owns 1,563,403 shares in the company, valued at approximately $5,784,591.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 10.00% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can lifted its holdings in Arbutus Biopharma Corporation by 1.9% in the 2nd quarter. Bank of Montreal Can now owns 874,254 shares of the biopharmaceutical company’s stock worth $3,147,000 after purchasing an additional 16,535 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in Arbutus Biopharma Corporation in the 2nd quarter worth approximately $478,000. OxFORD Asset Management LLP lifted its holdings in Arbutus Biopharma Corporation by 89.9% in the 2nd quarter. OxFORD Asset Management LLP now owns 83,310 shares of the biopharmaceutical company’s stock worth $300,000 after purchasing an additional 39,436 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Arbutus Biopharma Corporation by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 77,413 shares of the biopharmaceutical company’s stock worth $279,000 after purchasing an additional 2,035 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Arbutus Biopharma Corporation by 785.1% in the 1st quarter. Renaissance Technologies LLC now owns 124,573 shares of the biopharmaceutical company’s stock worth $405,000 after purchasing an additional 110,499 shares during the last quarter. Hedge funds and other institutional investors own 67.04% of the company’s stock.
Arbutus Biopharma Corporation Company Profile
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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