BidaskClub Upgrades Arbutus Biopharma (ABUS) to “Sell”

Arbutus Biopharma (NASDAQ:ABUS) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Thursday.

Several other research firms have also commented on ABUS. Leerink Swann reaffirmed a “market perform” rating and issued a $5.00 price target (up from $4.00) on shares of Arbutus Biopharma in a report on Tuesday, November 7th. ValuEngine raised shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. Wedbush reaffirmed an “outperform” rating and issued a $9.00 price target on shares of Arbutus Biopharma in a report on Wednesday, September 20th. Zacks Investment Research raised shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, Chardan Capital reissued a “buy” rating on shares of Arbutus Biopharma in a research note on Wednesday, September 13th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $13.00.

Arbutus Biopharma (ABUS) opened at $4.80 on Thursday. Arbutus Biopharma has a 12-month low of $2.35 and a 12-month high of $8.25. The company has a current ratio of 11.03, a quick ratio of 11.03 and a debt-to-equity ratio of 0.08.

In related news, insider Michael J. Sofia sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $8.00, for a total value of $80,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 6.90% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new stake in Arbutus Biopharma in the 3rd quarter valued at about $1,393,000. RTW Investments LP raised its holdings in Arbutus Biopharma by 1.1% in the 3rd quarter. RTW Investments LP now owns 5,266,280 shares of the biopharmaceutical company’s stock valued at $32,651,000 after acquiring an additional 56,457 shares during the last quarter. OxFORD Asset Management LLP raised its holdings in Arbutus Biopharma by 49.2% in the 3rd quarter. OxFORD Asset Management LLP now owns 124,273 shares of the biopharmaceutical company’s stock valued at $778,000 after acquiring an additional 40,963 shares during the last quarter. Vanguard Group Inc. raised its holdings in Arbutus Biopharma by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 77,413 shares of the biopharmaceutical company’s stock valued at $279,000 after acquiring an additional 2,035 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in Arbutus Biopharma in the 2nd quarter valued at about $478,000. 59.97% of the stock is currently owned by hedge funds and other institutional investors.

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About Arbutus Biopharma

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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