Zacks Investment Research lowered shares of Arbutus Biopharma (NASDAQ:ABUS) from a hold rating to a sell rating in a report published on Wednesday morning.
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. “
ABUS has been the topic of a number of other reports. Wedbush restated an outperform rating and issued a $9.00 price target on shares of Arbutus Biopharma in a research note on Wednesday, September 20th. JMP Securities restated an outperform rating and issued a $13.00 price target (up from $12.00) on shares of Arbutus Biopharma in a research note on Wednesday, October 4th. ValuEngine downgraded Arbutus Biopharma from a hold rating to a sell rating in a research note on Wednesday, October 25th. Leerink Swann restated a market perform rating and issued a $5.00 price target (up from $4.00) on shares of Arbutus Biopharma in a research note on Tuesday, November 7th. Finally, BidaskClub downgraded Arbutus Biopharma from a sell rating to a strong sell rating in a research note on Thursday, December 14th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $13.00.
A number of hedge funds have recently modified their holdings of ABUS. Point72 Asset Management L.P. acquired a new position in Arbutus Biopharma during the third quarter worth $1,393,000. Victory Capital Management Inc. acquired a new position in Arbutus Biopharma during the second quarter worth $478,000. RTW Investments LP raised its holdings in Arbutus Biopharma by 1.1% during the third quarter. RTW Investments LP now owns 5,266,280 shares of the biopharmaceutical company’s stock worth $32,651,000 after purchasing an additional 56,457 shares during the last quarter. OxFORD Asset Management LLP raised its holdings in Arbutus Biopharma by 49.2% during the third quarter. OxFORD Asset Management LLP now owns 124,273 shares of the biopharmaceutical company’s stock worth $778,000 after purchasing an additional 40,963 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Arbutus Biopharma by 2.7% during the second 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 during the last quarter. 59.97% of the stock is owned by hedge funds and other institutional investors.
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About Arbutus Biopharma
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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