Zacks Investment Research upgraded shares of Arbutus Biopharma Corporation (NASDAQ:ABUS) from a sell rating to a hold rating in a report published on Tuesday 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 several other reports. JMP Securities restated an outperform rating and issued a $13.00 price objective (up from $12.00) on shares of Arbutus Biopharma Corporation in a research report on Wednesday, October 4th. Chardan Capital restated a buy rating on shares of Arbutus Biopharma Corporation in a research report on Wednesday, September 13th. Wedbush restated an outperform rating and issued a $9.00 price objective on shares of Arbutus Biopharma Corporation in a research report on Wednesday, September 20th. ValuEngine cut shares of Arbutus Biopharma Corporation from a hold rating to a sell rating in a research report on Wednesday, October 25th. Finally, Leerink Swann restated a market perform rating and issued a $5.00 price objective (up from $4.00) on shares of Arbutus Biopharma Corporation in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Arbutus Biopharma Corporation presently has an average rating of Buy and a consensus price target of $13.00.

Arbutus Biopharma Corporation (NASDAQ ABUS) traded up $0.30 during mid-day trading on Tuesday, hitting $6.15. 99,543 shares of the company traded hands, compared to its average volume of 234,596. The company has a current ratio of 11.03, a quick ratio of 11.03 and a debt-to-equity ratio of 0.08. Arbutus Biopharma Corporation has a one year low of $2.35 and a one year high of $8.25.

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In other Arbutus Biopharma Corporation news, insider Michael J. Sofia sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The shares were 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 can be accessed through this hyperlink. Also, insider Michael J. Sofia sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $3.70, for a total transaction of $111,000.00. Following the transaction, the insider now owns 1,563,403 shares in the company, valued at $5,784,591.10. The disclosure for this sale can be found here. 10.00% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position 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 acquiring an additional 2,035 shares during the last quarter. OxFORD Asset Management LLP grew its position 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 acquiring an additional 39,436 shares during the last quarter. Renaissance Technologies LLC grew its position 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 acquiring an additional 110,499 shares during the last quarter. Victory Capital Management Inc. bought a new position in Arbutus Biopharma Corporation during the second quarter valued at approximately $478,000. Finally, Bank of Montreal Can grew its position 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 acquiring an additional 16,535 shares during the last quarter. Institutional investors and hedge funds own 66.99% of the company’s stock.

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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Analyst Recommendations for Arbutus Biopharma Corporation (NASDAQ:ABUS)

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