Arbutus Biopharma Co. (NASDAQ:ABUS) Position Trimmed by Verus Capital Partners LLC

Verus Capital Partners LLC reduced its holdings in Arbutus Biopharma Co. (NASDAQ:ABUS) by 35.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 26,900 shares of the biopharmaceutical company’s stock after selling 14,635 shares during the quarter. Verus Capital Partners LLC’s holdings in Arbutus Biopharma were worth $104,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of ABUS. Rubric Capital Management LP bought a new position in Arbutus Biopharma in the second quarter worth about $5,195,000. Bank of New York Mellon Corp boosted its position in Arbutus Biopharma by 21.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 493,729 shares of the biopharmaceutical company’s stock valued at $1,526,000 after purchasing an additional 86,104 shares during the period. Kennedy Capital Management LLC boosted its position in Arbutus Biopharma by 12.7% during the 1st quarter. Kennedy Capital Management LLC now owns 436,506 shares of the biopharmaceutical company’s stock valued at $1,126,000 after purchasing an additional 49,265 shares during the period. Bank of Montreal Can grew its stake in Arbutus Biopharma by 6.1% during the 2nd quarter. Bank of Montreal Can now owns 354,813 shares of the biopharmaceutical company’s stock worth $1,100,000 after buying an additional 20,548 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in Arbutus Biopharma by 19.7% in the first quarter. BNP Paribas Financial Markets now owns 349,435 shares of the biopharmaceutical company’s stock worth $902,000 after buying an additional 57,390 shares during the period. 43.79% of the stock is owned by institutional investors and hedge funds.

Arbutus Biopharma Trading Up 0.3 %

Shares of NASDAQ:ABUS opened at $3.65 on Thursday. The company has a 50 day moving average of $4.02 and a 200-day moving average of $3.61. The firm has a market cap of $691.65 million, a P/E ratio of -8.49 and a beta of 1.92. Arbutus Biopharma Co. has a twelve month low of $1.75 and a twelve month high of $4.72.

Analysts Set New Price Targets

ABUS has been the subject of several analyst reports. JMP Securities boosted their price target on shares of Arbutus Biopharma to $5.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. StockNews.com raised shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. Jefferies Financial Group raised their price target on shares of Arbutus Biopharma from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of Arbutus Biopharma in a research report on Thursday, November 7th. Finally, Chardan Capital raised their target price on Arbutus Biopharma from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.38.

Arbutus Biopharma Profile

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection in the United States. Its HBV product pipeline consists of imdusiran (AB-729), a proprietary subcutaneously-delivered RNAi therapeutic product candidate that suppresses all HBV antigens, including HBsAg expression.