Charles Schwab Investment Management Inc. Purchases 831,663 Shares of Arbutus Biopharma Co. (NASDAQ:ABUS)

Charles Schwab Investment Management Inc. boosted its stake in shares of Arbutus Biopharma Co. (NASDAQ:ABUS - Free Report) by 218.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,212,246 shares of the biopharmaceutical company's stock after buying an additional 831,663 shares during the period. Charles Schwab Investment Management Inc. owned about 0.64% of Arbutus Biopharma worth $4,667,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ABUS. Rubric Capital Management LP purchased a new stake in shares of Arbutus Biopharma in the second quarter valued at $5,195,000. Bank of New York Mellon Corp lifted its stake in Arbutus Biopharma by 21.1% in 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 acquiring an additional 86,104 shares in the last quarter. Bank of Montreal Can lifted its stake in Arbutus Biopharma by 6.1% in the 2nd quarter. Bank of Montreal Can now owns 354,813 shares of the biopharmaceutical company's stock worth $1,100,000 after acquiring an additional 20,548 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its position in Arbutus Biopharma by 102.2% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 208,152 shares of the biopharmaceutical company's stock worth $643,000 after acquiring an additional 105,228 shares during the period. Finally, Rhumbline Advisers grew its stake in Arbutus Biopharma by 8.6% during the 2nd quarter. Rhumbline Advisers now owns 185,067 shares of the biopharmaceutical company's stock valued at $572,000 after acquiring an additional 14,607 shares in the last quarter. 43.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ABUS. 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 report on Wednesday, November 20th. JMP Securities increased their target price on shares of Arbutus Biopharma to $5.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. 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. Finally, Jefferies Financial Group upped 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 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 has a consensus rating of "Moderate Buy" and a consensus target price of $5.50.

Arbutus Biopharma Price Performance

ABUS traded down $0.08 during midday trading on Friday, hitting $3.48. 565,594 shares of the company's stock traded hands, compared to its average volume of 1,086,491. The company has a market cap of $659.43 million, a PE ratio of -8.09 and a beta of 1.84. The stock's fifty day simple moving average is $3.75 and its 200-day simple moving average is $3.70. Arbutus Biopharma Co. has a one year low of $2.13 and a one year 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.