Arbutus Biopharma (ABUS) Downgraded by Zacks Investment Research to “Hold”

Arbutus Biopharma (NASDAQ:ABUS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “Arbutus Biopharma Corporation is a biopharmaceutical company which is focused on discovering, developing and commercializing a portfolio of drug candidates for chronic hepatitis B infection. The Company’s products include TKM-HBV, Cyclophilin Inhibitor-OCB-030, TLR9 Agonist (CYT-003), Capsid Assembly Inhibitors, Surface Antigen Secretion Inhibitors, STING Agonists, cccDNA Formation Inhibitors, cccDNA Epigenetic Modifiers, TKM-PLK1, GI-NET and ACC, HCC, TKM-Ebola, TKM-Ebola-Guinea, TKM-Marburg, TKM-HTG and TKM-ALDH which are in different clinical trial stage. Arbutus Biopharma Corp, formerly known as Tekmira Pharmaceuticals Corporation, is headquartered in Vancouver, BC. “

Several other equities analysts have also commented on the stock. ValuEngine lowered shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a research report on Saturday, December 1st. B. Riley upgraded shares of Arbutus Biopharma from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $11.50 to $9.00 in a research report on Tuesday, October 16th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $6.19.

ABUS stock traded up $0.01 during midday trading on Wednesday, reaching $3.90. 5,474 shares of the company’s stock traded hands, compared to its average volume of 201,017. Arbutus Biopharma has a 52-week low of $3.20 and a 52-week high of $12.60. The stock has a market cap of $215.81 million, a P/E ratio of -2.20 and a beta of 2.00. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.01.

Hedge funds have recently added to or reduced their stakes in the business. Hudson Bay Capital Management LP lifted its holdings in shares of Arbutus Biopharma by 333.3% in the 4th quarter. Hudson Bay Capital Management LP now owns 650,000 shares of the biopharmaceutical company’s stock worth $2,490,000 after acquiring an additional 500,000 shares during the last quarter. Bailard Inc. increased its holdings in shares of Arbutus Biopharma by 208.6% during the 4th quarter. Bailard Inc. now owns 216,000 shares of the biopharmaceutical company’s stock valued at $827,000 after purchasing an additional 146,000 shares in the last quarter. Alps Advisors Inc. purchased a new position in shares of Arbutus Biopharma during the 4th quarter valued at approximately $490,000. Rhumbline Advisers increased its holdings in shares of Arbutus Biopharma by 45.9% during the 4th quarter. Rhumbline Advisers now owns 49,032 shares of the biopharmaceutical company’s stock valued at $188,000 after purchasing an additional 15,416 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Arbutus Biopharma by 6.3% during the 4th quarter. Bank of Montreal Can now owns 967,604 shares of the biopharmaceutical company’s stock valued at $3,706,000 after purchasing an additional 57,398 shares in the last quarter. Institutional investors and hedge funds own 42.75% of the company’s stock.

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).

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