Arbutus Biopharma Corporation (ABUS) Receives Consensus Rating of “Buy” from Brokerages

Shares of Arbutus Biopharma Corporation (NASDAQ:ABUS) have earned a consensus recommendation of “Buy” from the seven research firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $18.00.

A number of equities research analysts have recently weighed in on ABUS shares. Zacks Investment Research lowered shares of Arbutus Biopharma Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Chardan Capital restated a “buy” rating on shares of Arbutus Biopharma Corporation in a report on Monday, August 7th. Wedbush restated an “outperform” rating and issued a $9.00 price objective on shares of Arbutus Biopharma Corporation in a report on Wednesday, September 20th. ValuEngine upgraded shares of Arbutus Biopharma Corporation from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. Finally, JMP Securities restated an “outperform” rating and issued a $13.00 price objective (up from $12.00) on shares of Arbutus Biopharma Corporation in a report on Wednesday, October 4th.

Arbutus Biopharma Corporation (NASDAQ:ABUS) traded down 3.90% during trading on Thursday, hitting $7.40. 505,025 shares of the stock traded hands. The stock’s market cap is $407.19 million. Arbutus Biopharma Corporation has a 12 month low of $2.35 and a 12 month high of $8.25. The company has a 50-day moving average price of $5.60 and a 200-day moving average price of $4.04.

In related news, insider Michael J. Sofia sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $3.70, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael J. Sofia sold 10,000 shares of the company’s stock in a transaction on 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 large investors have recently bought and sold shares of ABUS. Vanguard Group Inc. raised its holdings in Arbutus Biopharma Corporation 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 during the last quarter. OxFORD Asset Management LLP raised its holdings in 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 valued at $300,000 after buying an additional 39,436 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Arbutus Biopharma Corporation by 785.1% during the 1st quarter. Renaissance Technologies LLC now owns 124,573 shares of the biopharmaceutical company’s stock valued at $405,000 after buying an additional 110,499 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Arbutus Biopharma Corporation during the 2nd quarter valued at $478,000. Finally, Bank of Montreal Can raised its holdings in 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 valued at $3,147,000 after buying an additional 16,535 shares during the last quarter. Institutional investors own 67.04% of the company’s stock.

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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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