Arbutus Biopharma Corporation (NASDAQ:ABUS) insider Michael J. Sofia sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $8.00, for a total transaction of $80,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shares of Arbutus Biopharma Corporation (NASDAQ ABUS) traded up 6.38% on Thursday, hitting $7.50. 411,275 shares of the stock were exchanged. Arbutus Biopharma Corporation has a one year low of $2.35 and a one year high of $8.25. The company’s market cap is $412.70 million. The firm’s 50-day moving average is $5.07 and its 200-day moving average is $3.89.

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A number of hedge funds have recently added to or reduced their stakes in ABUS. Renaissance Technologies LLC lifted its stake in Arbutus Biopharma Corporation by 785.1% during the first quarter. Renaissance Technologies LLC now owns 124,573 shares of the biopharmaceutical company’s stock valued at $405,000 after purchasing an additional 110,499 shares during the last quarter. Bank of Montreal Can lifted its stake in Arbutus Biopharma Corporation by 1.9% during the second quarter. Bank of Montreal Can now owns 874,254 shares of the biopharmaceutical company’s stock valued at $3,147,000 after purchasing an additional 16,535 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in Arbutus Biopharma Corporation during the second quarter valued at approximately $478,000. Vanguard Group Inc. lifted its stake in Arbutus Biopharma Corporation by 2.7% during the second quarter. Vanguard Group Inc. now owns 77,413 shares of the biopharmaceutical company’s stock valued at $279,000 after purchasing an additional 2,035 shares during the last quarter. Finally, OxFORD Asset Management LLP lifted its stake in Arbutus Biopharma Corporation by 89.9% during the second quarter. OxFORD Asset Management LLP now owns 83,310 shares of the biopharmaceutical company’s stock valued at $300,000 after purchasing an additional 39,436 shares during the last quarter. 67.04% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently weighed in on the stock. JMP Securities reissued an “outperform” rating and set a $13.00 price objective (up from $12.00) on shares of Arbutus Biopharma Corporation in a research note on Wednesday. Zacks Investment Research cut shares of Arbutus Biopharma Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Chardan Capital reissued a “buy” rating on shares of Arbutus Biopharma Corporation in a research note on Wednesday, September 13th. Wedbush reissued an “outperform” rating and set a $9.00 price objective on shares of Arbutus Biopharma Corporation in a research note on Wednesday, September 20th. Finally, ValuEngine raised shares of Arbutus Biopharma Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $15.00.

Arbutus Biopharma Corporation Company Profile

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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