Wellington Management Group LLP Grows Position in Arbutus Biopharma Co. (NASDAQ:ABUS)

Wellington Management Group LLP raised its position in Arbutus Biopharma Co. (NASDAQ:ABUS) by 4.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 496,818 shares of the biopharmaceutical company’s stock after acquiring an additional 21,807 shares during the quarter. Wellington Management Group LLP’s holdings in Arbutus Biopharma were worth $1,913,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake 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 purchasing an additional 831,663 shares during the last quarter. Rubric Capital Management LP purchased a new stake in shares of Arbutus Biopharma during the 2nd quarter worth approximately $5,195,000. Creative Planning boosted its holdings in shares of Arbutus Biopharma by 13.8% in 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. Intech Investment Management LLC purchased a new position in shares of Arbutus Biopharma in the 3rd quarter valued at $142,000. Finally, Rhumbline Advisers lifted its position in Arbutus Biopharma by 8.6% in the second quarter. Rhumbline Advisers now owns 185,067 shares of the biopharmaceutical company’s stock valued at $572,000 after acquiring an additional 14,607 shares during the last quarter. Institutional investors and hedge funds own 43.79% of the company’s stock.

Arbutus Biopharma Stock Down 7.8 %

ABUS opened at $3.19 on Thursday. Arbutus Biopharma Co. has a 52 week low of $2.19 and a 52 week high of $4.72. The business has a 50 day moving average price of $3.73 and a two-hundred day moving average price of $3.70. The company has a market cap of $604.48 million, a PE ratio of -7.42 and a beta of 1.84.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JMP Securities lifted their target price on Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Chardan Capital reaffirmed a “buy” rating and set a $5.00 price target (up previously from $4.50) on shares of Arbutus Biopharma in a research report on Wednesday, November 20th. Jefferies Financial Group raised their target price on shares of Arbutus Biopharma from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of Arbutus Biopharma in a report on Monday, November 18th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

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.