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.
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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