Arbutus Biopharma (NASDAQ:ABUS) Downgraded to Sell at Zacks Investment Research

Arbutus Biopharma (NASDAQ:ABUS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, January 3rd.

According to Zacks, “Arbutus Biopharma Corporation is a biopharmaceutical company which is focused on discovering, developing and commercializing a portfolio of drug candidates for chronic hepatitis B infection. The Company’s products include TKM-HBV, Cyclophilin Inhibitor-OCB-030, TLR9 Agonist (CYT-003), Capsid Assembly Inhibitors, Surface Antigen Secretion Inhibitors, STING Agonists, cccDNA Formation Inhibitors, cccDNA Epigenetic Modifiers, TKM-PLK1, GI-NET and ACC, HCC, TKM-Ebola, TKM-Ebola-Guinea, TKM-Marburg, TKM-HTG and TKM-ALDH which are in different clinical trial stage. Arbutus Biopharma Corp, formerly known as Tekmira Pharmaceuticals Corporation, is headquartered in Vancouver, BC. “

Other analysts have also issued research reports about the company. BidaskClub raised Arbutus Biopharma from a “strong sell” rating to a “sell” rating in a report on Thursday, December 21st. Chardan Capital reaffirmed a “buy” rating on shares of Arbutus Biopharma in a report on Wednesday, September 13th. ValuEngine lowered Arbutus Biopharma from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Leerink Swann reaffirmed a “market perform” rating and issued a $5.00 price objective (up previously from $4.00) on shares of Arbutus Biopharma in a report on Tuesday, November 7th. Finally, JMP Securities reaffirmed an “outperform” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Arbutus Biopharma in a report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $12.50.

Arbutus Biopharma (NASDAQ ABUS) remained flat at $$5.05 during mid-day trading on Wednesday. The company’s stock had a trading volume of 133,300 shares, compared to its average volume of 273,303. The company has a debt-to-equity ratio of 0.08, a current ratio of 11.03 and a quick ratio of 11.03. Arbutus Biopharma has a fifty-two week low of $2.35 and a fifty-two week high of $8.25. The stock has a market cap of $278.01, a PE ratio of -1.01 and a beta of 1.07.

A number of large investors have recently added to or reduced their stakes in the business. RTW Investments LP grew its holdings in Arbutus Biopharma by 1.1% during the third quarter. RTW Investments LP now owns 5,266,280 shares of the biopharmaceutical company’s stock valued at $32,651,000 after purchasing an additional 56,457 shares during the period. Point72 Asset Management L.P. bought a new stake in Arbutus Biopharma during the third quarter valued at about $1,393,000. Victory Capital Management Inc. bought a new stake in Arbutus Biopharma during the second quarter valued at about $478,000. OxFORD Asset Management LLP grew its holdings in Arbutus Biopharma by 49.2% during the third quarter. OxFORD Asset Management LLP now owns 124,273 shares of the biopharmaceutical company’s stock valued at $778,000 after purchasing an additional 40,963 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Arbutus Biopharma by 2.7% during the second quarter. Vanguard Group Inc. now owns 77,413 shares of the biopharmaceutical company’s stock valued at $279,000 after purchasing an additional 2,035 shares during the period. 59.97% of the stock is owned by institutional investors and hedge funds.

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About Arbutus Biopharma

Arbutus Biopharma Corporation, formerly Tekmira Pharmaceuticals Corporation, is a therapeutic solutions company. The Company is engaged in discovering, developing and commercializing a cure for patients suffering from chronic hepatitis B infection (HBV), a disease of the liver caused by the hepatitis B virus (HBV).

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