Arbutus Biopharma (NASDAQ:ABUS) Trading Down 10.7%

Arbutus Biopharma Co. (NASDAQ:ABUS) fell 10.7% on Tuesday . The stock traded as low as $3.64 and last traded at $3.83. 3,885,233 shares were traded during mid-day trading, an increase of 22% from the average session volume of 3,195,567 shares. The stock had previously closed at $4.29.

Several brokerages have weighed in on ABUS. Chardan Capital reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a report on Monday, November 16th. HC Wainwright began coverage on Arbutus Biopharma in a report on Thursday, December 17th. They issued a “buy” rating and a $10.00 price objective for the company. Finally, Zacks Investment Research cut Arbutus Biopharma from a “hold” rating to a “sell” rating in a report on Friday, February 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $6.25.

The company has a market cap of $325.20 million, a price-to-earnings ratio of -3.11 and a beta of 3.15. The business has a fifty day moving average price of $4.09 and a 200 day moving average price of $3.52.

In other Arbutus Biopharma news, insider Michael J. Mcelhaugh sold 40,000 shares of the company’s stock in a transaction dated Monday, December 14th. The stock was sold at an average price of $5.00, for a total value of $200,000.00. Following the completion of the transaction, the insider now owns 1,337,457 shares of the company’s stock, valued at approximately $6,687,285. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael J. Mcelhaugh sold 20,000 shares of the company’s stock in a transaction dated Tuesday, February 9th. The stock was sold at an average price of $5.00, for a total value of $100,000.00. Following the completion of the transaction, the insider now directly owns 1,307,457 shares of the company’s stock, valued at approximately $6,537,285. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC acquired a new position in Arbutus Biopharma in the 4th quarter worth about $25,000. Valeo Financial Advisors LLC acquired a new position in Arbutus Biopharma in the 3rd quarter worth about $25,000. IHT Wealth Management LLC acquired a new position in Arbutus Biopharma in the 3rd quarter worth about $31,000. LPL Financial LLC acquired a new position in Arbutus Biopharma in the 4th quarter worth about $38,000. Finally, ProShare Advisors LLC acquired a new position in Arbutus Biopharma in the 4th quarter worth about $47,000. 28.44% of the stock is owned by institutional investors and hedge funds.

Arbutus Biopharma Company Profile (NASDAQ:ABUS)

Arbutus Biopharma Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of a cure for patients suffering from chronic Hepatitis B virus (HBV) infection in the United States. Its HBV product pipeline consists of AB-836, a capsid inhibitor that has the potential to inhibit HBV replication by preventing the assembly of functional viral capsids; and AB-423, which is in pre-clinical studies.

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