Wellington Management Group LLP Boosts Stake in Arbutus Biopharma Co. (NASDAQ:ABUS)

Wellington Management Group LLP increased its holdings in shares of Arbutus Biopharma Co. (NASDAQ:ABUS) by 4.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 496,818 shares of the biopharmaceutical company’s stock after acquiring an additional 21,807 shares during the quarter. Wellington Management Group LLP owned about 0.26% of Arbutus Biopharma worth $1,913,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. nVerses Capital LLC acquired a new position in shares of Arbutus Biopharma during the 2nd quarter worth approximately $34,000. Helen Stephens Group LLC purchased a new position in Arbutus Biopharma during the third quarter worth approximately $50,000. XTX Topco Ltd acquired a new position in Arbutus Biopharma during the second quarter worth $53,000. Premier Path Wealth Partners LLC grew its holdings in Arbutus Biopharma by 18.0% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 36,000 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 5,500 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of Arbutus Biopharma by 63.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 36,309 shares of the biopharmaceutical company’s stock worth $140,000 after acquiring an additional 14,138 shares during the last quarter. Hedge funds and other institutional investors own 43.79% of the company’s stock.

Arbutus Biopharma Price Performance

NASDAQ ABUS opened at $3.19 on Thursday. The company has a market cap of $604.48 million, a P/E ratio of -7.42 and a beta of 1.84. The stock has a 50-day moving average of $3.73 and a two-hundred day moving average of $3.70. Arbutus Biopharma Co. has a 1-year low of $2.19 and a 1-year high of $4.72.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ABUS shares. Chardan Capital reissued a “buy” rating and set a $5.00 price target (up previously from $4.50) on shares of Arbutus Biopharma in a research 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 upped their price objective 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 increased their price objective on Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.50.

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.