State Street Corp Buys 1,472,652 Shares of Arbutus Biopharma Co. (NASDAQ:ABUS)

State Street Corp raised its stake in Arbutus Biopharma Co. (NASDAQ:ABUS) by 50.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,407,133 shares of the biopharmaceutical company’s stock after acquiring an additional 1,472,652 shares during the period. State Street Corp’s holdings in Arbutus Biopharma were worth $16,967,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. nVerses Capital LLC purchased a new position in Arbutus Biopharma in the 2nd quarter worth approximately $34,000. Helen Stephens Group LLC bought a new position in Arbutus Biopharma during the 3rd quarter valued at about $50,000. XTX Topco Ltd purchased a new stake in shares of Arbutus Biopharma during the 2nd quarter valued at about $53,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of 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 acquiring an additional 14,138 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Arbutus Biopharma in the third quarter worth approximately $142,000. 43.79% of the stock is owned by hedge funds and other institutional investors.

Arbutus Biopharma Stock Down 0.3 %

Shares of Arbutus Biopharma stock opened at $3.18 on Wednesday. The stock’s 50-day simple moving average is $3.69 and its 200-day simple moving average is $3.70. The company has a market capitalization of $602.58 million, a price-to-earnings ratio of -7.40 and a beta of 1.84. Arbutus Biopharma Co. has a 52 week low of $2.21 and a 52 week high of $4.72.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JMP Securities increased their price objective on shares of Arbutus Biopharma to $5.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Jefferies Financial Group raised their target price on Arbutus Biopharma from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. 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. Finally, HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of Arbutus Biopharma in a research note on Monday, November 18th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Arbutus Biopharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

Arbutus Biopharma 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.