Chardan Capital Reiterates Buy Rating for Arbutus Biopharma Corporation (ABUS)

Arbutus Biopharma Corporation (NASDAQ:ABUS)‘s stock had its “buy” rating reiterated by investment analysts at Chardan Capital in a research report issued to clients and investors on Wednesday.

A number of other brokerages have also recently weighed in on ABUS. Ladenburg Thalmann Financial Services initiated coverage on Arbutus Biopharma Corporation in a research note on Friday, June 2nd. They issued a “buy” rating and a $32.00 price objective for the company. Zacks Investment Research raised Arbutus Biopharma Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $12.81.

Arbutus Biopharma Corporation (NASDAQ ABUS) traded up 5.26% during trading on Wednesday, hitting $5.00. The stock had a trading volume of 354,989 shares. Arbutus Biopharma Corporation has a one year low of $2.35 and a one year high of $5.05. The firm has a 50 day moving average of $3.96 and a 200-day moving average of $3.53. The company’s market cap is $275.13 million.

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In other news, insider Michael J. Sofia sold 30,000 shares of Arbutus Biopharma Corporation stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $3.70, for a total value of $111,000.00. Following the completion of the sale, the insider now directly owns 1,563,403 shares of the company’s stock, valued at $5,784,591.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 10.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can grew its stake in shares of Arbutus Biopharma Corporation by 1.9% in the second quarter. Bank of Montreal Can now owns 874,254 shares of the biopharmaceutical company’s stock valued at $3,147,000 after buying an additional 16,535 shares in the last quarter. OxFORD Asset Management LLP grew its stake in Arbutus Biopharma Corporation by 89.9% during the 2nd quarter. OxFORD Asset Management LLP now owns 83,310 shares of the biopharmaceutical company’s stock worth $300,000 after purchasing an additional 39,436 shares in the last quarter. Vanguard Group Inc. grew its stake in Arbutus Biopharma Corporation by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 77,413 shares of the biopharmaceutical company’s stock worth $279,000 after purchasing an additional 2,035 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Arbutus Biopharma Corporation during the 2nd quarter worth $478,000. Finally, Renaissance Technologies LLC grew its stake in Arbutus Biopharma Corporation by 785.1% during the 1st quarter. Renaissance Technologies LLC now owns 124,573 shares of the biopharmaceutical company’s stock worth $405,000 after purchasing an additional 110,499 shares in the last quarter. 67.06% of the stock is owned by institutional investors and hedge funds.

Arbutus Biopharma Corporation Company Profile

Arbutus Biopharma Corporation, formerly Tekmira Pharmaceuticals Corporation, is a therapeutic solutions company. The Company is engaged in discovering, developing and commercializing a cure for patients suffering from chronic hepatitis B infection (HBV), a disease of the liver caused by the hepatitis B virus (HBV).

Analyst Recommendations for Arbutus Biopharma Corporation (NASDAQ:ABUS)

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