Geode Capital Management LLC Grows Stock Position in Arbutus Biopharma Co. (NASDAQ:ABUS)

Geode Capital Management LLC lifted its stake in Arbutus Biopharma Co. (NASDAQ:ABUS) by 4.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,448,600 shares of the biopharmaceutical company’s stock after buying an additional 135,442 shares during the period. Geode Capital Management LLC’s holdings in Arbutus Biopharma were worth $13,280,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 buying an additional 831,663 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Arbutus Biopharma in the third quarter worth about $754,000. State Street Corp increased its holdings in shares of Arbutus Biopharma by 50.2% in the third quarter. State Street Corp now owns 4,407,133 shares of the biopharmaceutical company’s stock worth $16,967,000 after buying an additional 1,472,652 shares during the period. Rubric Capital Management LP purchased a new position in shares of Arbutus Biopharma in the second quarter worth about $5,195,000. Finally, Wellington Management Group LLP increased its holdings in shares of Arbutus Biopharma by 4.6% in the third quarter. Wellington Management Group LLP now owns 496,818 shares of the biopharmaceutical company’s stock worth $1,913,000 after buying an additional 21,807 shares during the period. Hedge funds and other institutional investors own 43.79% of the company’s stock.

Arbutus Biopharma Price Performance

Shares of NASDAQ:ABUS opened at $3.20 on Tuesday. The stock’s 50-day moving average is $3.60 and its 200 day moving average is $3.70. The company has a market cap of $606.37 million, a PE ratio of -7.44 and a beta of 1.84. Arbutus Biopharma Co. has a 1 year low of $2.21 and a 1 year high of $4.72.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Chardan Capital reiterated a “buy” rating and issued a $5.00 price objective (up previously from $4.50) on shares of Arbutus Biopharma in a report on Wednesday, November 20th. HC Wainwright restated a “buy” rating and set a $5.00 price target on shares of Arbutus Biopharma in a report on Monday, November 18th. Jefferies Financial Group boosted their price target on 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 boosted their price target on Arbutus Biopharma to $5.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

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.