JPMorgan Chase & Co. Increases Holdings in Arbutus Biopharma Co. (NASDAQ:ABUS)

JPMorgan Chase & Co. raised its stake in Arbutus Biopharma Co. (NASDAQ:ABUS) by 11.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 89,586 shares of the biopharmaceutical company’s stock after acquiring an additional 8,859 shares during the quarter. JPMorgan Chase & Co.’s holdings in Arbutus Biopharma were worth $345,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABUS. Helen Stephens Group LLC acquired a new stake in shares of Arbutus Biopharma in the third quarter valued at about $50,000. XTX Topco Ltd purchased a new position in shares of Arbutus Biopharma in the second quarter valued at $53,000. China Universal Asset Management Co. Ltd. grew its holdings in Arbutus Biopharma by 63.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 36,309 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 14,138 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Arbutus Biopharma during the 3rd quarter valued at $142,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Arbutus Biopharma by 453.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,503 shares of the biopharmaceutical company’s stock worth $144,000 after buying an additional 30,723 shares during the period. Institutional investors and hedge funds own 43.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Chardan Capital restated a “buy” rating and set a $5.00 target price (up from $4.50) on shares of Arbutus Biopharma in a research note on Wednesday, November 20th. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of Arbutus Biopharma in a research report on Tuesday, January 21st. Finally, JMP Securities raised their price target on shares of Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Arbutus Biopharma presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

Arbutus Biopharma Stock Up 0.9 %

NASDAQ:ABUS opened at $3.38 on Thursday. The business’s 50 day moving average is $3.37 and its two-hundred day moving average is $3.72. Arbutus Biopharma Co. has a 52 week low of $2.27 and a 52 week high of $4.72. The company has a market cap of $640.48 million, a PE ratio of -7.86 and a beta of 1.78.

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.