Zurcher Kantonalbank Zurich Cantonalbank Purchases 30,723 Shares of Arbutus Biopharma Co. (NASDAQ:ABUS)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Arbutus Biopharma Co. (NASDAQ:ABUS) by 453.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,503 shares of the biopharmaceutical company’s stock after buying an additional 30,723 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Arbutus Biopharma were worth $144,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ABUS. Charles Schwab Investment Management Inc. grew its holdings in Arbutus Biopharma by 218.5% in 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 purchasing an additional 831,663 shares during the last quarter. Intech Investment Management LLC purchased a new position in Arbutus Biopharma during the 3rd quarter worth $142,000. China Universal Asset Management Co. Ltd. increased its position 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 buying an additional 14,138 shares in the last quarter. Creative Planning increased its position in Arbutus Biopharma by 13.8% during the 3rd quarter. Creative Planning now owns 49,500 shares of the biopharmaceutical company’s stock valued at $191,000 after buying an additional 5,989 shares in the last quarter. Finally, Helen Stephens Group LLC purchased a new stake in shares of Arbutus Biopharma during the third quarter worth about $50,000. Institutional investors own 43.79% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ABUS shares. HC Wainwright restated a “buy” rating and set a $5.00 price objective on shares of Arbutus Biopharma in a report on Monday, November 18th. Chardan Capital reaffirmed a “buy” rating and issued a $5.00 price target (up previously from $4.50) on shares of Arbutus Biopharma in a report on Wednesday, November 20th. Jefferies Financial Group boosted their price objective on shares of Arbutus Biopharma from $5.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Finally, JMP Securities raised their target price on Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $5.50.

Arbutus Biopharma Stock Performance

Shares of NASDAQ ABUS opened at $3.68 on Tuesday. The company has a 50 day simple moving average of $3.77 and a two-hundred day simple moving average of $3.69. The stock has a market cap of $697.32 million, a price-to-earnings ratio of -8.56 and a beta of 1.84. Arbutus Biopharma Co. has a 12 month low of $1.98 and a 12 month high of $4.72.

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.