Geode Capital Management LLC Buys 135,442 Shares of Arbutus Biopharma Co. (NASDAQ:ABUS)

Geode Capital Management LLC lifted its stake in Arbutus Biopharma Co. (NASDAQ:ABUS) by 4.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,448,600 shares of the biopharmaceutical company’s stock after acquiring an additional 135,442 shares during the period. Geode Capital Management LLC owned approximately 1.82% of Arbutus Biopharma worth $13,280,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Arbutus Biopharma by 7.9% in the second quarter. The Manufacturers Life Insurance Company now owns 57,323 shares of the biopharmaceutical company’s stock worth $177,000 after acquiring an additional 4,191 shares during the period. Creative Planning boosted its stake in Arbutus Biopharma by 13.8% during the third 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 during the period. nVerses Capital LLC bought a new stake in Arbutus Biopharma during the second quarter valued at $34,000. XTX Topco Ltd boosted its stake in Arbutus Biopharma by 76.2% during the third quarter. XTX Topco Ltd now owns 30,013 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 12,975 shares during the period. Finally, Helen Stephens Group LLC bought a new stake in Arbutus Biopharma during the third quarter valued at $50,000. 43.79% of the stock is owned by institutional investors.

Arbutus Biopharma Stock Down 0.3 %

Shares of ABUS stock opened at $3.20 on Tuesday. The business has a 50-day moving average price of $3.60 and a two-hundred day moving average price of $3.70. Arbutus Biopharma Co. has a 12-month low of $2.21 and a 12-month high of $4.72. The firm has a market cap of $606.37 million, a P/E ratio of -7.44 and a beta of 1.84.

Analysts Set New Price Targets

Several research firms recently issued reports on ABUS. Jefferies Financial Group lifted their price objective on Arbutus Biopharma from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. JMP Securities lifted their price objective on Arbutus Biopharma to $5.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. HC Wainwright reissued a “buy” rating and set a $5.00 price objective on shares of Arbutus Biopharma in a research note on Monday, November 18th. Finally, 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 note on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Arbutus Biopharma currently has an average rating of “Moderate Buy” and a consensus price target 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.