State Street Corp Increases Holdings in Arbutus Biopharma Co. (NASDAQ:ABUS)

State Street Corp increased its position in shares of Arbutus Biopharma Co. (NASDAQ:ABUS - Free Report) by 50.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,407,133 shares of the biopharmaceutical company's stock after purchasing an additional 1,472,652 shares during the quarter. State Street Corp owned approximately 2.33% of Arbutus Biopharma worth $16,967,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ABUS. nVerses Capital LLC purchased a new position in shares of Arbutus Biopharma in the 2nd quarter worth approximately $34,000. Helen Stephens Group LLC bought a new stake in Arbutus Biopharma during the third quarter worth $50,000. XTX Topco Ltd purchased a new position in Arbutus Biopharma in the second quarter worth $53,000. China Universal Asset Management Co. Ltd. grew its stake in 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 valued at $140,000 after purchasing an additional 14,138 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in shares of Arbutus Biopharma during the 3rd quarter valued at $142,000. 43.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ABUS has been the topic of a number of research analyst reports. JMP Securities boosted their price target on shares of Arbutus Biopharma to $5.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Jefferies Financial Group boosted their target price 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. Chardan Capital restated 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. Finally, HC Wainwright reiterated a "buy" rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a research note on Monday, November 18th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $5.50.

Arbutus Biopharma Price Performance

NASDAQ:ABUS traded down $0.01 on Wednesday, reaching $3.18. 370,783 shares of the company's stock were exchanged, compared to its average volume of 1,086,335. The firm has a market cap of $602.58 million, a price-to-earnings ratio of -7.40 and a beta of 1.84. The stock has a fifty day simple moving average of $3.67 and a 200-day simple moving average of $3.70. Arbutus Biopharma Co. has a 52 week low of $2.21 and a 52 week 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.