StockNews.com Downgrades Arbutus Biopharma (NASDAQ:ABUS) to Sell

Arbutus Biopharma (NASDAQ:ABUS) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Other analysts also recently issued research reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of Arbutus Biopharma in a research note on Tuesday, January 21st. Chardan Capital reaffirmed a “buy” rating and issued a $5.00 price target (up from $4.50) on shares of Arbutus Biopharma in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $5.50.

Arbutus Biopharma Stock Performance

Arbutus Biopharma stock opened at $3.19 on Thursday. The company has a 50 day moving average price of $3.33 and a 200-day moving average price of $3.63. Arbutus Biopharma has a fifty-two week low of $2.30 and a fifty-two week high of $4.73. The company has a market capitalization of $604.48 million, a PE ratio of -7.42 and a beta of 1.93.

Institutional Investors Weigh In On Arbutus Biopharma

Large investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. purchased a new stake in shares of Arbutus Biopharma during the fourth quarter valued at $236,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Arbutus Biopharma by 218.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,212,246 shares of the biopharmaceutical company’s stock valued at $4,667,000 after buying an additional 831,663 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Arbutus Biopharma during the third quarter valued at $754,000. Barclays PLC grew its holdings in shares of Arbutus Biopharma by 466.3% during the third quarter. Barclays PLC now owns 272,029 shares of the biopharmaceutical company’s stock valued at $1,047,000 after buying an additional 223,995 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Arbutus Biopharma by 50.2% during the third quarter. State Street Corp now owns 4,407,133 shares of the biopharmaceutical company’s stock valued at $16,967,000 after buying an additional 1,472,652 shares during the last quarter. 43.79% of the stock is owned by hedge funds and other institutional investors.

About Arbutus Biopharma

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.