Shares of Arbutus Biopharma Corporation (NASDAQ:ABUS) rose 5.5% on Wednesday . The company traded as high as $7.90 and last traded at $7.70. Approximately 605,044 shares were traded during mid-day trading, an increase of 111% from the average daily volume of 287,220 shares. The stock had previously closed at $7.30.

ABUS has been the topic of a number of research reports. Chardan Capital reiterated a “buy” rating on shares of Arbutus Biopharma Corporation in a research note on Wednesday, September 13th. Zacks Investment Research upgraded shares of Arbutus Biopharma Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. ValuEngine upgraded shares of Arbutus Biopharma Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, September 21st. JMP Securities restated an “outperform” rating and set a $13.00 price target (up previously from $12.00) on shares of Arbutus Biopharma Corporation in a research report on Wednesday, October 4th. Finally, Wedbush restated an “outperform” rating and set a $9.00 price target on shares of Arbutus Biopharma Corporation in a research report on Wednesday, September 20th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $15.00.

The stock’s 50 day moving average is $5.48 and its 200 day moving average is $4.01. The company’s market cap is $423.70 million.

In related news, insider Michael J. Sofia sold 30,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $3.70, for a total value of $111,000.00. Following the sale, the insider now directly owns 1,563,403 shares of the company’s stock, valued at approximately $5,784,591.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael J. Sofia sold 10,000 shares of the stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $8.00, for a total transaction of $80,000.00. The disclosure for this sale can be found here. Corporate insiders own 10.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Arbutus Biopharma Corporation by 2.7% during 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. Bank of Montreal Can boosted its stake in shares of Arbutus Biopharma Corporation by 1.9% during 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. OxFORD Asset Management LLP boosted its stake in shares of Arbutus Biopharma Corporation by 89.9% during 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. Renaissance Technologies LLC boosted its stake in shares of Arbutus Biopharma Corporation by 785.1% during 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. Finally, Victory Capital Management Inc. acquired a new stake in shares of Arbutus Biopharma Corporation during the 2nd quarter worth about $478,000. 67.04% of the stock is currently owned by hedge funds and other 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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