Alps Advisors Inc. Cuts Holdings in Arbutus Biopharma Co. (NASDAQ:ABUS)

Alps Advisors Inc. trimmed its holdings in shares of Arbutus Biopharma Co. (NASDAQ:ABUSGet Rating) by 42.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,224 shares of the biopharmaceutical company’s stock after selling 64,538 shares during the quarter. Alps Advisors Inc. owned approximately 0.06% of Arbutus Biopharma worth $239,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in Arbutus Biopharma by 8.9% in the second quarter. JPMorgan Chase & Co. now owns 64,191 shares of the biopharmaceutical company’s stock worth $173,000 after purchasing an additional 5,265 shares during the last quarter. SG Americas Securities LLC grew its holdings in Arbutus Biopharma by 62.5% in the second quarter. SG Americas Securities LLC now owns 21,518 shares of the biopharmaceutical company’s stock worth $58,000 after purchasing an additional 8,274 shares during the last quarter. Front Row Advisors LLC purchased a new position in Arbutus Biopharma in the first quarter worth $31,000. Principal Financial Group Inc. purchased a new position in Arbutus Biopharma in the second quarter worth $32,000. Finally, WMG Financial Advisors LLC purchased a new position in Arbutus Biopharma in the second quarter worth $34,000. 29.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on ABUS shares. HC Wainwright cut their price target on shares of Arbutus Biopharma from $7.50 to $6.00 and set a “buy” rating on the stock in a report on Thursday, November 10th. StockNews.com started coverage on shares of Arbutus Biopharma in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.50.

Arbutus Biopharma Price Performance

Shares of ABUS opened at $2.70 on Thursday. Arbutus Biopharma Co. has a 1-year low of $1.85 and a 1-year high of $6.50. The company’s fifty day moving average price is $2.25 and its 200-day moving average price is $2.39.

Arbutus Biopharma Company Profile

(Get Rating)

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection, SARS-CoV-2, and other coronaviruses in the United States. Its HBV product pipeline consists of AB-729, a proprietary subcutaneously delivered RNA interference product candidate, which in Phase Ia/Ib clinical trial targeted to hepatocytes that inhibits viral replication and reduces various HBV antigens using novel covalently conjugated N-acetylgalactosamine (GalNAc) delivery technology; and AB-836, an oral capsid inhibitor that suppresses HBV DNA replication.

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Institutional Ownership by Quarter for Arbutus Biopharma (NASDAQ:ABUS)

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