Analysts Set Arbutus Biopharma Corporation (ABUS) Target Price at $21.00

Shares of Arbutus Biopharma Corporation (NASDAQ:ABUS) have received a consensus recommendation of “Buy” from the six research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $21.00.

Several equities research analysts recently commented on the company. Chardan Capital reissued a “buy” rating on shares of Arbutus Biopharma Corporation in a report on Monday, August 7th. Zacks Investment Research raised Arbutus Biopharma Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Finally, Ladenburg Thalmann Financial Services assumed coverage on Arbutus Biopharma Corporation in a report on Friday, June 2nd. They set a “buy” rating and a $32.00 target price on the stock.

In other Arbutus Biopharma Corporation news, insider Michael J. Sofia sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $3.70, for a total value of $111,000.00. Following the transaction, the insider now owns 1,563,403 shares of the company’s stock, valued at $5,784,591.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.00% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. OxFORD Asset Management LLP boosted its position in Arbutus Biopharma Corporation by 89.9% in the second quarter. OxFORD Asset Management LLP now owns 83,310 shares of the biopharmaceutical company’s stock valued at $300,000 after buying an additional 39,436 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Arbutus Biopharma Corporation by 2.7% in the second quarter. Vanguard Group Inc. now owns 77,413 shares of the biopharmaceutical company’s stock valued at $279,000 after buying an additional 2,035 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Arbutus Biopharma Corporation during the second quarter valued at about $478,000. Bank of Montreal Can increased its stake in shares of Arbutus Biopharma Corporation by 1.9% in the second quarter. Bank of Montreal Can now owns 874,254 shares of the biopharmaceutical company’s stock valued at $3,147,000 after buying an additional 16,535 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Arbutus Biopharma Corporation by 785.1% in the first quarter. Renaissance Technologies LLC now owns 124,573 shares of the biopharmaceutical company’s stock valued at $405,000 after buying an additional 110,499 shares during the period. 66.49% of the stock is currently owned by institutional investors.

Shares of Arbutus Biopharma Corporation (NASDAQ ABUS) traded up 2.63% during mid-day trading on Wednesday, reaching $3.90. The company’s stock had a trading volume of 82,021 shares. The company’s 50 day moving average price is $3.67 and its 200-day moving average price is $3.35. The company’s market capitalization is $214.60 million. Arbutus Biopharma Corporation has a 1-year low of $2.35 and a 1-year high of $4.01.

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Arbutus Biopharma Corporation Company Profile

Arbutus Biopharma Corporation, formerly Tekmira Pharmaceuticals Corporation, is a therapeutic solutions company. The Company is engaged in discovering, developing and commercializing a cure for patients suffering from chronic hepatitis B infection (HBV), a disease of the liver caused by the hepatitis B virus (HBV).