Arbutus Biopharma (NASDAQ:ABUS) Receives New Coverage from Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Arbutus Biopharma (NASDAQ:ABUSGet Rating) in a report issued on Thursday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Other analysts also recently issued research reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Arbutus Biopharma in a research report on Friday, March 3rd. Chardan Capital reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Arbutus Biopharma in a research report on Friday, March 3rd.

Arbutus Biopharma Price Performance

Shares of NASDAQ:ABUS opened at $3.03 on Thursday. The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.04. Arbutus Biopharma has a 52-week low of $1.85 and a 52-week high of $3.22. The company has a 50 day moving average of $2.80 and a two-hundred day moving average of $2.49. The company has a market capitalization of $492.59 million, a price-to-earnings ratio of -6.45 and a beta of 2.26.

Institutional Investors Weigh In On Arbutus Biopharma

Hedge funds have recently added to or reduced their stakes in the stock. Virtus ETF Advisers LLC increased its holdings in shares of Arbutus Biopharma by 14.0% during the second quarter. Virtus ETF Advisers LLC now owns 42,675 shares of the biopharmaceutical company’s stock valued at $116,000 after purchasing an additional 5,227 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Arbutus Biopharma by 8.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 64,191 shares of the biopharmaceutical company’s stock valued at $173,000 after buying an additional 5,265 shares during the last quarter. American International Group Inc. lifted its holdings in Arbutus Biopharma by 11.7% in the 2nd quarter. American International Group Inc. now owns 50,544 shares of the biopharmaceutical company’s stock worth $137,000 after purchasing an additional 5,312 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in Arbutus Biopharma by 12.1% in the 2nd quarter. Rafferty Asset Management LLC now owns 67,736 shares of the biopharmaceutical company’s stock worth $184,000 after purchasing an additional 7,335 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Arbutus Biopharma by 31.4% in the 3rd quarter. Alliancebernstein L.P. now owns 31,800 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 7,600 shares during the last quarter. 31.03% of the stock is currently owned by institutional investors.

About Arbutus Biopharma

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Arbutus Biopharma Corp. is a biopharmaceutical company. It engages in discovering, developing and commercializing a cure for patients suffering from chronic Hepatitis B virus infection. The company was founded in 2007 and is headquartered in Warminster, PA.

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