Wedbush reaffirmed their outperform rating on shares of Arbutus Biopharma Corp (NASDAQ:ABUS) in a research report report published on Wednesday. The brokerage currently has a $10.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $9.00.
Other equities analysts have also recently issued research reports about the company. Bloom Burton reiterated an accumulate rating on shares of Arbutus Biopharma Corp in a report on Wednesday, December 14th. Chardan Capital upgraded Arbutus Biopharma Corp from a neutral rating to a buy rating and lifted their price target for the stock from $3.00 to $4.00 in a report on Wednesday, November 30th. Finally, Zacks Investment Research cut Arbutus Biopharma Corp from a strong-buy rating to a hold rating in a report on Tuesday, January 10th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Arbutus Biopharma Corp presently has an average rating of Buy and a consensus price target of $5.65.
Arbutus Biopharma Corp (NASDAQ:ABUS) opened at 3.25 on Wednesday. Arbutus Biopharma Corp has a one year low of $2.35 and a one year high of $5.48. The stock has a 50 day moving average price of $2.79 and a 200-day moving average price of $2.94. The firm’s market capitalization is $178.82 million.
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Several large investors have recently modified their holdings of ABUS. Bank of Montreal Can boosted its stake in shares of Arbutus Biopharma Corp by 6.3% in the third quarter. Bank of Montreal Can now owns 861,553 shares of the biopharmaceutical company’s stock worth $2,964,000 after buying an additional 50,768 shares in the last quarter. Baker BROS. Advisors LP purchased a new stake in shares of Arbutus Biopharma Corp during the third quarter worth about $621,000. K2 Principal Fund L.P. boosted its stake in shares of Arbutus Biopharma Corp by 69.3% in the third quarter. K2 Principal Fund L.P. now owns 107,620 shares of the biopharmaceutical company’s stock worth $370,000 after buying an additional 44,070 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Arbutus Biopharma Corp by 1,058,889.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,294,945 shares of the biopharmaceutical company’s stock worth $12,972,000 after buying an additional 5,294,445 shares in the last quarter. Finally, Oxford Asset Management purchased a new stake in shares of Arbutus Biopharma Corp during the fourth quarter worth about $392,000. Institutional investors own 61.24% of the company’s stock.
About Arbutus Biopharma Corp
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).
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