PFG Investments LLC Cuts Stake in Arbutus Biopharma Co. (NASDAQ:ABUS)

PFG Investments LLC decreased its holdings in Arbutus Biopharma Co. (NASDAQ:ABUS) by 26.0% in the 4th quarter, HoldingsChannel reports. The fund owned 14,200 shares of the biopharmaceutical company’s stock after selling 5,000 shares during the quarter. PFG Investments LLC’s holdings in Arbutus Biopharma were worth $46,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ABUS. Charles Schwab Investment Management Inc. increased its position in 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 worth $4,667,000 after buying an additional 831,663 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Arbutus Biopharma in the 3rd quarter worth $754,000. Barclays PLC raised its holdings in shares of Arbutus Biopharma by 466.3% in the 3rd quarter. Barclays PLC now owns 272,029 shares of the biopharmaceutical company’s stock worth $1,047,000 after purchasing an additional 223,995 shares during the period. State Street Corp lifted its position in 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 in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Arbutus Biopharma by 4.6% in the 3rd quarter. Wellington Management Group LLP now owns 496,818 shares of the biopharmaceutical company’s stock valued at $1,913,000 after purchasing an additional 21,807 shares in the last quarter. Institutional investors and hedge funds own 43.79% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Chardan Capital restated a “buy” rating and set a $5.00 price objective (up from $4.50) on shares of Arbutus Biopharma in a report on Wednesday, November 20th. HC Wainwright reiterated a “buy” rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a research report on Tuesday, January 21st. Finally, JMP Securities increased their target price on shares of Arbutus Biopharma to $5.00 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 assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $5.50.

Arbutus Biopharma Trading Up 0.9 %

Shares of ABUS stock opened at $3.33 on Friday. Arbutus Biopharma Co. has a 1 year low of $2.27 and a 1 year high of $4.72. The firm’s fifty day simple moving average is $3.37 and its 200 day simple moving average is $3.71. The firm has a market capitalization of $631.00 million, a P/E ratio of -7.74 and a beta of 1.78.

Arbutus Biopharma Company 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.