Principal Financial Group Inc. Reduces Holdings in Arbutus Biopharma Co. (NASDAQ:ABUS)

Principal Financial Group Inc. lessened its position in shares of Arbutus Biopharma Co. (NASDAQ:ABUS) by 47.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,755 shares of the biopharmaceutical company’s stock after selling 12,352 shares during the quarter. Principal Financial Group Inc.’s holdings in Arbutus Biopharma were worth $53,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Rubric Capital Management LP purchased a new position in shares of Arbutus Biopharma during the second quarter worth $5,195,000. Kennedy Capital Management LLC grew its position in Arbutus Biopharma by 12.7% in the 1st quarter. Kennedy Capital Management LLC now owns 436,506 shares of the biopharmaceutical company’s stock valued at $1,126,000 after acquiring an additional 49,265 shares in the last quarter. Walleye Trading LLC purchased a new stake in Arbutus Biopharma during the first quarter worth about $36,000. Creative Planning lifted its position in shares of Arbutus Biopharma by 13.8% during the third quarter. Creative Planning now owns 49,500 shares of the biopharmaceutical company’s stock worth $191,000 after purchasing an additional 5,989 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Arbutus Biopharma by 22.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,388 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 6,649 shares during the period. 43.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. StockNews.com raised Arbutus Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of Arbutus Biopharma in a research report on Monday, November 18th. JMP Securities boosted their price objective on Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Chardan Capital restated a “buy” rating and set a $5.00 target price (up from $4.50) on shares of Arbutus Biopharma in a research note on Wednesday, November 20th. Finally, Jefferies Financial Group lifted their price target on shares of Arbutus Biopharma from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, September 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

Arbutus Biopharma Trading Down 0.3 %

ABUS stock opened at $3.41 on Wednesday. The company’s 50 day moving average is $3.85 and its two-hundred day moving average is $3.66. Arbutus Biopharma Co. has a twelve month low of $1.79 and a twelve month high of $4.72. The stock has a market cap of $646.16 million, a P/E ratio of -7.93 and a beta of 1.92.

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.