BidaskClub Downgrades Arbutus Biopharma (ABUS) to Sell
Arbutus Biopharma (NASDAQ:ABUS) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.
A number of other equities analysts have also recently commented on ABUS. Chardan Capital reaffirmed a “buy” rating on shares of Arbutus Biopharma in a report on Monday, August 7th. Wedbush reaffirmed an “outperform” rating and issued a $9.00 target price on shares of Arbutus Biopharma in a report on Wednesday, September 20th. ValuEngine raised shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. JMP Securities reaffirmed an “outperform” rating and issued a $13.00 target price (up from $12.00) on shares of Arbutus Biopharma in a report on Wednesday, October 4th. Finally, Leerink Swann reaffirmed a “market perform” rating and issued a $5.00 target price (up from $4.00) on shares of Arbutus Biopharma in a report on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $13.00.
Arbutus Biopharma (NASDAQ ABUS) traded down $0.10 during mid-day trading on Friday, reaching $5.55. 193,691 shares of the company’s stock were exchanged, compared to its average volume of 209,921. The company has a debt-to-equity ratio of 0.08, a quick ratio of 11.03 and a current ratio of 11.03. Arbutus Biopharma has a 12 month low of $2.35 and a 12 month high of $8.25.
Several institutional investors have recently made changes to their positions in the company. RTW Investments LP increased its holdings in shares of Arbutus Biopharma by 1.1% in the 3rd quarter. RTW Investments LP now owns 5,266,280 shares of the biopharmaceutical company’s stock valued at $32,651,000 after acquiring an additional 56,457 shares during the period. Bank of Montreal Can grew its position in Arbutus Biopharma by 1.9% in the 2nd quarter. Bank of Montreal Can now owns 874,254 shares of the biopharmaceutical company’s stock valued at $3,147,000 after buying an additional 16,535 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Arbutus Biopharma in the 3rd quarter valued at $1,393,000. Victory Capital Management Inc. purchased a new position in Arbutus Biopharma in the 2nd quarter valued at $478,000. Finally, Renaissance Technologies LLC grew its position in Arbutus Biopharma by 785.1% in the 1st quarter. Renaissance Technologies LLC now owns 124,573 shares of the biopharmaceutical company’s stock valued at $405,000 after buying an additional 110,499 shares during the last quarter. 60.00% of the stock is currently owned by institutional investors and hedge funds.
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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