Zacks Investment Research Downgrades Arbutus Biopharma Corporation (NASDAQ:ABUS) to Sell

Arbutus Biopharma Corporation (NASDAQ:ABUS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, July 4th.

According to Zacks, “Arbutus Biopharma Corporation is a biopharmaceutical company which is focused on discovering, developing and commercializing a portfolio of drug candidates for chronic hepatitis B infection. The Company’s products include TKM-HBV, Cyclophilin Inhibitor-OCB-030, TLR9 Agonist (CYT-003), Capsid Assembly Inhibitors, Surface Antigen Secretion Inhibitors, STING Agonists, cccDNA Formation Inhibitors, cccDNA Epigenetic Modifiers, TKM-PLK1, GI-NET and ACC, HCC, TKM-Ebola, TKM-Ebola-Guinea, TKM-Marburg, TKM-HTG and TKM-ALDH which are in different clinical trial stage. Arbutus Biopharma Corp, formerly known as Tekmira Pharmaceuticals Corporation, is headquartered in Vancouver, BC. “

Several other analysts also recently commented on the stock. Ladenburg Thalmann Financial Services initiated coverage on shares of Arbutus Biopharma Corporation in a report on Friday, June 2nd. They issued a “buy” rating and a $32.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and issued a $10.00 price objective (up from $9.00) on shares of Arbutus Biopharma Corporation in a report on Wednesday, March 22nd. Finally, Chardan Capital raised shares of Arbutus Biopharma Corporation from a “neutral” rating to a “buy” rating and increased their price target for the stock from $3.00 to $6.00 in a report on Tuesday, April 4th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Arbutus Biopharma Corporation presently has a consensus rating of “Buy” and a consensus price target of $10.54.

Shares of Arbutus Biopharma Corporation (NASDAQ ABUS) traded down 2.86% during mid-day trading on Tuesday, hitting $3.40. 36,947 shares of the stock traded hands. The firm has a 50 day moving average of $3.67 and a 200 day moving average of $3.21. Arbutus Biopharma Corporation has a 12 month low of $2.35 and a 12 month high of $4.49. The stock’s market cap is $187.08 million.

Arbutus Biopharma Corporation (NASDAQ:ABUS) last released its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.30) by $0.04. The firm had revenue of $0.20 million for the quarter, compared to analyst estimates of $7.50 million. On average, equities analysts expect that Arbutus Biopharma Corporation will post ($1.64) EPS for the current fiscal year.

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A hedge fund recently raised its stake in Arbutus Biopharma Corporation stock. Renaissance Technologies LLC boosted its position in Arbutus Biopharma Corporation (NASDAQ:ABUS) by 785.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 124,573 shares of the biopharmaceutical company’s stock after buying an additional 110,499 shares during the period. Renaissance Technologies LLC’s holdings in Arbutus Biopharma Corporation were worth $405,000 at the end of the most recent reporting period. 66.53% of the stock is currently owned by hedge funds and other institutional investors.

About Arbutus Biopharma Corporation

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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