Charles Schwab Investment Management Inc. Grows Stock Holdings in Arbutus Biopharma Co. (NASDAQ:ABUS)

Charles Schwab Investment Management Inc. raised its holdings in Arbutus Biopharma Co. (NASDAQ:ABUS) by 218.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,212,246 shares of the biopharmaceutical company’s stock after purchasing an additional 831,663 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.64% of Arbutus Biopharma worth $4,667,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ABUS. Price T Rowe Associates Inc. MD boosted its holdings in Arbutus Biopharma by 22.4% in the 1st 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 in the last quarter. Premier Path Wealth Partners LLC lifted its position in shares of Arbutus Biopharma by 18.0% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 36,000 shares of the biopharmaceutical company’s stock valued at $111,000 after acquiring an additional 5,500 shares during the period. Bank of New York Mellon Corp raised its position in shares of Arbutus Biopharma by 21.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 493,729 shares of the biopharmaceutical company’s stock worth $1,526,000 after purchasing an additional 86,104 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Arbutus Biopharma during the 2nd quarter worth approximately $34,000. Finally, Rhumbline Advisers raised its position in shares of Arbutus Biopharma by 8.6% during the 2nd quarter. Rhumbline Advisers now owns 185,067 shares of the biopharmaceutical company’s stock worth $572,000 after purchasing an additional 14,607 shares during the last quarter. Hedge funds and other institutional investors own 43.79% of the company’s stock.

Analysts Set New Price Targets

ABUS has been the subject of several research reports. JMP Securities lifted their price objective on Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. HC Wainwright reiterated a “buy” rating and issued a $5.00 price target on shares of Arbutus Biopharma in a report on Monday, November 18th. 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 research note on Thursday, September 5th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $5.00 price target (up from $4.50) on shares of Arbutus Biopharma in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Arbutus Biopharma has a consensus rating of “Moderate Buy” and an average price target of $5.50.

Arbutus Biopharma Price Performance

Shares of ABUS stock opened at $3.48 on Friday. The firm has a market capitalization of $659.43 million, a P/E ratio of -8.14 and a beta of 1.84. The company’s fifty day moving average price is $3.76 and its two-hundred day moving average price is $3.69. Arbutus Biopharma Co. has a 12 month low of $2.13 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.