StockNews.com Downgrades Arbutus Biopharma (NASDAQ:ABUS) to Sell

Arbutus Biopharma (NASDAQ:ABUS) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

ABUS has been the subject of a number of other research reports. Chardan Capital reiterated a “buy” rating and set a $5.00 price target (up previously from $4.50) on shares of Arbutus Biopharma in a research note on Wednesday, November 20th. HC Wainwright reissued a “buy” rating and set a $5.00 target price on shares of Arbutus Biopharma in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.50.

Arbutus Biopharma Stock Down 0.6 %

NASDAQ ABUS opened at $3.30 on Thursday. The company has a market cap of $625.32 million, a price-to-earnings ratio of -7.67 and a beta of 1.93. Arbutus Biopharma has a twelve month low of $2.30 and a twelve month high of $4.73. The business’s fifty day moving average is $3.33 and its 200 day moving average is $3.62.

Hedge Funds Weigh In On Arbutus Biopharma

A number of institutional investors have recently bought and sold shares of the stock. State Street Corp increased its stake in shares of Arbutus Biopharma by 50.2% during the third quarter. State Street Corp now owns 4,407,133 shares of the biopharmaceutical company’s stock valued at $16,967,000 after purchasing an additional 1,472,652 shares in the last quarter. Rangeley Capital LLC purchased a new position in Arbutus Biopharma during the fourth quarter valued at approximately $4,771,000. Charles Schwab Investment Management Inc. increased its stake in shares of Arbutus Biopharma by 218.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,212,246 shares of the biopharmaceutical company’s stock worth $4,667,000 after purchasing an additional 831,663 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Arbutus Biopharma by 900.4% during the fourth quarter. JPMorgan Chase & Co. now owns 896,258 shares of the biopharmaceutical company’s stock worth $2,931,000 after purchasing an additional 806,672 shares in the last quarter. Finally, Whitefort Capital Management LP grew its holdings in Arbutus Biopharma by 2.9% during the 4th quarter. Whitefort Capital Management LP now owns 13,241,916 shares of the biopharmaceutical company’s stock valued at $43,301,000 after buying an additional 373,949 shares in the last quarter. 43.79% of the stock is owned by institutional investors.

Arbutus Biopharma Company Profile

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection in the United States. Its HBV product pipeline consists of imdusiran (AB-729), a proprietary subcutaneously-delivered RNAi therapeutic product candidate that suppresses all HBV antigens, including HBsAg expression.