StockNews.com Begins Coverage on Arbutus Biopharma (NASDAQ:ABUS)

StockNews.com initiated coverage on shares of Arbutus Biopharma (NASDAQ:ABUS – Get Rating) in a research report released on Thursday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently issued reports on ABUS. Chardan Capital reissued a buy rating and set a $6.00 price objective on shares of Arbutus Biopharma in a research report on Friday, March 3rd. HC Wainwright restated a buy rating and set a $6.00 target price on shares of Arbutus Biopharma in a research note on Friday, March 3rd.

Arbutus Biopharma Trading Up 1.7 %

Shares of ABUS stock opened at $2.99 on Thursday. Arbutus Biopharma has a 1 year low of $1.85 and a 1 year high of $3.22. The firm has a fifty day moving average price of $2.82 and a 200-day moving average price of $2.50. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.60 and a quick ratio of 4.60. The company has a market cap of $486.08 million, a price-to-earnings ratio of -6.36 and a beta of 2.26.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ABUS. Virtus ETF Advisers LLC lifted its stake in Arbutus Biopharma by 14.0% in the 2nd quarter. Virtus ETF Advisers LLC now owns 42,675 shares of the biopharmaceutical company’s stock worth $116,000 after purchasing an additional 5,227 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Arbutus Biopharma by 8.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 64,191 shares of the biopharmaceutical company’s stock worth $173,000 after purchasing an additional 5,265 shares in the last quarter. American International Group Inc. lifted its stake in Arbutus Biopharma by 11.7% in the 2nd quarter. American International Group Inc. now owns 50,544 shares of the biopharmaceutical company’s stock worth $137,000 after purchasing an additional 5,312 shares in the last quarter. Rafferty Asset Management LLC lifted its stake in Arbutus Biopharma by 12.1% in the 2nd quarter. Rafferty Asset Management LLC now owns 67,736 shares of the biopharmaceutical company’s stock worth $184,000 after purchasing an additional 7,335 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Arbutus Biopharma by 31.4% in the 3rd quarter. Alliancebernstein L.P. now owns 31,800 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 7,600 shares in the last quarter. Hedge funds and other institutional investors own 31.03% of the company’s stock.

Arbutus Biopharma Company Profile

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Arbutus Biopharma Corp. is a biopharmaceutical company. It engages in discovering, developing and commercializing a cure for patients suffering from chronic Hepatitis B virus infection. The company was founded in 2007 and is headquartered in Warminster, PA.