JPMorgan Chase & Co. Increases Stock Position in Arbutus Biopharma Co. (NASDAQ:ABUS)

JPMorgan Chase & Co. lifted its holdings in shares of Arbutus Biopharma Co. (NASDAQ:ABUS) by 11.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,586 shares of the biopharmaceutical company’s stock after purchasing an additional 8,859 shares during the period. JPMorgan Chase & Co.’s holdings in Arbutus Biopharma were worth $345,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABUS. Helen Stephens Group LLC acquired a new position in shares of Arbutus Biopharma in the third quarter worth $50,000. XTX Topco Ltd acquired a new position in shares of Arbutus Biopharma in the second quarter valued at approximately $53,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Arbutus Biopharma by 63.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 36,309 shares of the biopharmaceutical company’s stock valued at $140,000 after buying an additional 14,138 shares during the period. Intech Investment Management LLC acquired a new stake in Arbutus Biopharma during the third quarter worth approximately $142,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Arbutus Biopharma by 453.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,503 shares of the biopharmaceutical company’s stock worth $144,000 after acquiring an additional 30,723 shares during the period. Hedge funds and other institutional investors own 43.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. JMP Securities increased their price target on Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Chardan Capital reissued a “buy” rating and issued a $5.00 price target (up from $4.50) on shares of Arbutus Biopharma in a research note on Wednesday, November 20th. Finally, HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of Arbutus Biopharma in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Arbutus Biopharma presently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Arbutus Biopharma Trading Up 0.9 %

ABUS stock opened at $3.38 on Thursday. The stock has a 50-day moving average price of $3.37 and a two-hundred day moving average price of $3.72. The company has a market cap of $640.48 million, a PE ratio of -7.86 and a beta of 1.78. Arbutus Biopharma Co. has a 12-month low of $2.27 and a 12-month high of $4.72.

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.