ValuEngine Lowers Arbutus Biopharma (ABUS) to Strong Sell
ValuEngine lowered shares of Arbutus Biopharma (NASDAQ:ABUS) from a sell rating to a strong sell rating in a report released on Friday morning.
ABUS has been the topic of several other research reports. JMP Securities reaffirmed an outperform rating and issued a $13.00 price objective (up previously from $12.00) on shares of Arbutus Biopharma in a research note on Wednesday, October 4th. Chardan Capital reaffirmed a buy rating on shares of Arbutus Biopharma in a research note on Wednesday, September 13th. Zacks Investment Research upgraded Arbutus Biopharma from a sell rating to a hold rating in a research report on Tuesday, November 7th. Wedbush reiterated an outperform rating and set a $9.00 target price on shares of Arbutus Biopharma in a research report on Wednesday, September 20th. Finally, BidaskClub cut Arbutus Biopharma from a hold rating to a sell rating in a research report on Saturday, December 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $13.00.
Arbutus Biopharma (NASDAQ:ABUS) opened at $4.75 on Friday. The company has a current ratio of 11.03, a quick ratio of 11.03 and a debt-to-equity ratio of 0.08. Arbutus Biopharma has a 12 month low of $2.35 and a 12 month high of $8.25.
In related news, insider Michael J. Sofia sold 10,000 shares of the stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $8.00, for a total transaction of $80,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. purchased a new position in Arbutus Biopharma during the 3rd quarter valued at approximately $1,393,000. RTW Investments LP grew its holdings in Arbutus Biopharma by 1.1% during the 3rd quarter. RTW Investments LP now owns 5,266,280 shares of the biopharmaceutical company’s stock valued at $32,651,000 after buying an additional 56,457 shares in the last quarter. OxFORD Asset Management LLP grew its holdings in Arbutus Biopharma by 49.2% during the 3rd quarter. OxFORD Asset Management LLP now owns 124,273 shares of the biopharmaceutical company’s stock valued at $778,000 after buying an additional 40,963 shares in the last quarter. Vanguard Group Inc. grew its holdings in Arbutus Biopharma by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 77,413 shares of the biopharmaceutical company’s stock valued at $279,000 after buying an additional 2,035 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new position in Arbutus Biopharma during the 2nd quarter valued at approximately $478,000. Institutional investors and hedge funds own 59.97% of the company’s stock.
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Arbutus Biopharma 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).
To view ValuEngine’s full report, visit ValuEngine’s official website.
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