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

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

Several other research firms also recently weighed in on ABUS. Chardan Capital reissued a “buy” rating and issued a $5.00 price target (up from $4.50) on shares of Arbutus Biopharma in a research note on Wednesday, November 20th. HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of Arbutus Biopharma in a research note on Tuesday, January 21st. Finally, JMP Securities raised their price target on shares of Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, Arbutus Biopharma currently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Arbutus Biopharma Stock Performance

Shares of NASDAQ:ABUS traded up $0.11 during midday trading on Tuesday, hitting $3.45. The company’s stock had a trading volume of 3,530,405 shares, compared to its average volume of 772,056. The business’s 50 day simple moving average is $3.31 and its 200 day simple moving average is $3.66. The company has a market cap of $653.74 million, a P/E ratio of -8.02 and a beta of 1.78. Arbutus Biopharma has a 12-month low of $2.30 and a 12-month high of $4.72.

Hedge Funds Weigh In On Arbutus Biopharma

A number of institutional investors have recently bought and sold shares of ABUS. State Street Corp raised its stake in Arbutus Biopharma by 50.2% during the third quarter. State Street Corp now owns 4,407,133 shares of the biopharmaceutical company’s stock worth $16,967,000 after purchasing an additional 1,472,652 shares during the period. Rangeley Capital LLC purchased a new position in Arbutus Biopharma during the fourth quarter worth about $4,771,000. Charles Schwab Investment Management Inc. raised its stake in shares of Arbutus Biopharma by 218.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,212,246 shares of the biopharmaceutical company’s stock valued at $4,667,000 after acquiring an additional 831,663 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Arbutus Biopharma by 900.4% in the 4th quarter. JPMorgan Chase & Co. now owns 896,258 shares of the biopharmaceutical company’s stock valued at $2,931,000 after acquiring an additional 806,672 shares during the period. Finally, Whitefort Capital Management LP raised its stake in shares of Arbutus Biopharma by 2.9% in 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 acquiring an additional 373,949 shares during the period. 43.79% of the stock is owned by hedge funds and other institutional investors.

About Arbutus Biopharma

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.