Arbutus Biopharma Corp (NASDAQ:ABUS) shares shot up 5.4% during mid-day trading on Friday . The company traded as high as $2.77 and last traded at $2.72. 626,133 shares were traded during mid-day trading, an increase of 154% from the average session volume of 246,072 shares. The stock had previously closed at $2.58.
ABUS has been the topic of a number of recent research reports. Echelon Wealth Partners reaffirmed a “hold” rating on shares of Arbutus Biopharma in a research report on Monday, March 11th. Zacks Investment Research raised Arbutus Biopharma from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research report on Tuesday, March 12th. Chardan Capital reaffirmed a “buy” rating and set a $6.50 price target on shares of Arbutus Biopharma in a research report on Sunday, March 10th. Finally, BidaskClub raised Arbutus Biopharma from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Arbutus Biopharma presently has an average rating of “Buy” and a consensus price target of $6.25.
The stock has a market cap of $154.33 million, a P/E ratio of -2.67 and a beta of 1.77.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc lifted its position in shares of Arbutus Biopharma by 15.8% during the 4th quarter. Legal & General Group Plc now owns 28,407 shares of the biopharmaceutical company’s stock valued at $109,000 after buying an additional 3,867 shares during the last quarter. BNP Paribas Arbitrage SA purchased a new stake in Arbutus Biopharma during the 1st quarter worth about $26,000. Teachers Advisors LLC lifted its holdings in Arbutus Biopharma by 12.5% during the 3rd quarter. Teachers Advisors LLC now owns 75,945 shares of the biopharmaceutical company’s stock worth $718,000 after purchasing an additional 8,428 shares in the last quarter. Bailard Inc. lifted its holdings in Arbutus Biopharma by 5.6% during the 1st quarter. Bailard Inc. now owns 228,000 shares of the biopharmaceutical company’s stock worth $816,000 after purchasing an additional 12,000 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Arbutus Biopharma by 45.9% during the 4th quarter. Rhumbline Advisers now owns 49,032 shares of the biopharmaceutical company’s stock worth $188,000 after purchasing an additional 15,416 shares in the last quarter. 43.08% of the stock is currently owned by hedge funds and other institutional investors.
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Arbutus Biopharma Company Profile (NASDAQ:ABUS)
Arbutus Biopharma Corp. is a biopharmaceutical company, engages in discovering, developing and commercializing a cure for patients suffering from chronic Hepatitis B virus infection. The company was founded on October 6, 2005 and is headquartered in Burnaby, Canada.
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