Wells Fargo & Company MN increased its stake in shares of Arbutus Biopharma Corp (NASDAQ:ABUS) by 46.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,063 shares of the biopharmaceutical company’s stock after purchasing an additional 21,737 shares during the quarter. Wells Fargo & Company MN owned approximately 0.12% of Arbutus Biopharma worth $644,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position in shares of Arbutus Biopharma by 2.9% during the second quarter. Renaissance Technologies LLC now owns 250,652 shares of the biopharmaceutical company’s stock worth $1,830,000 after purchasing an additional 7,152 shares during the period. Rhumbline Advisers bought a new stake in Arbutus Biopharma during the 2nd quarter valued at approximately $243,000. Schwab Charles Investment Management Inc. bought a new stake in shares of Arbutus Biopharma in the 2nd quarter worth approximately $482,000. PNC Financial Services Group Inc. bought a new stake in shares of Arbutus Biopharma in the 2nd quarter worth approximately $493,000. Finally, Millennium Management LLC raised its holdings in shares of Arbutus Biopharma by 559.4% in the 2nd quarter. Millennium Management LLC now owns 87,089 shares of the biopharmaceutical company’s stock worth $636,000 after buying an additional 73,882 shares in the last quarter. 42.59% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently issued reports on ABUS. Zacks Investment Research upgraded Arbutus Biopharma from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a research report on Thursday, November 15th. Wedbush upgraded Arbutus Biopharma from an “underperform” rating to a “neutral” rating and set a $5.00 price target for the company in a research note on Monday, October 15th. They noted that the move was a valuation call. ValuEngine downgraded shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a research report on Saturday, December 1st. Chardan Capital decreased their price objective on Arbutus Biopharma from $12.00 to $6.50 and set a “buy” rating for the company in a report on Friday, October 12th. Finally, BidaskClub cut shares of Arbutus Biopharma from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 11th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Arbutus Biopharma currently has an average rating of “Buy” and an average price target of $6.19.
Arbutus Biopharma (NASDAQ:ABUS) last released its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.13). The firm had revenue of $1.59 million during the quarter, compared to the consensus estimate of $0.23 million. Arbutus Biopharma had a negative net margin of 1,116.69% and a negative return on equity of 91.36%. On average, equities research analysts expect that Arbutus Biopharma Corp will post -1.49 EPS for the current fiscal year.
ILLEGAL ACTIVITY WARNING: This piece of content was first published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://www.com-unik.info/2019/01/18/arbutus-biopharma-corp-abus-holdings-raised-by-wells-fargo-company-mn.html.
About Arbutus Biopharma
Arbutus Biopharma Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of a cure for patients suffering from chronic Hepatitis B virus (HBV) infection in Canada and the United States. It also develops a pipeline of products based on RNA interference therapeutics (RNAi).
See Also: Understanding Market Liquidity
Want to see what other hedge funds are holding ABUS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arbutus Biopharma Corp (NASDAQ:ABUS).
Receive News & Ratings for Arbutus Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arbutus Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.