Arbutus Biopharma Corporation (NASDAQ:ABUS) shares saw unusually-high trading volume on Wednesday . Approximately 3,283,542 shares changed hands during trading, an increase of 2,888% from the previous session’s volume of 109,894 shares.The stock last traded at $6.70 and had previously closed at $5.55.

ABUS has been the subject of a number of analyst reports. Ladenburg Thalmann Financial Services initiated coverage on Arbutus Biopharma Corporation in a research note on Friday, June 2nd. They set a “buy” rating and a $32.00 price target for the company. Chardan Capital reiterated a “buy” rating on shares of Arbutus Biopharma Corporation in a research note on Wednesday, September 13th. Finally, Zacks Investment Research upgraded Arbutus Biopharma Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $12.81.

The company’s market capitalization is $368.67 million. The stock’s 50-day moving average price is $4.08 and its 200-day moving average price is $3.58.

In other Arbutus Biopharma Corporation news, insider Michael J. Sofia sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $3.70, for a total transaction of $111,000.00. Following the completion of the transaction, the insider now owns 1,563,403 shares of the company’s stock, valued at $5,784,591.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.00% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. OxFORD Asset Management LLP increased its stake in shares of Arbutus Biopharma Corporation by 89.9% during the second quarter. OxFORD Asset Management LLP now owns 83,310 shares of the biopharmaceutical company’s stock valued at $300,000 after purchasing an additional 39,436 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Arbutus Biopharma Corporation 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 in the last quarter. Victory Capital Management Inc. bought a new position in shares of Arbutus Biopharma Corporation during the second quarter valued at approximately $478,000. Bank of Montreal Can increased its stake in shares of Arbutus Biopharma Corporation by 1.9% during the second quarter. Bank of Montreal Can now owns 874,254 shares of the biopharmaceutical company’s stock valued at $3,147,000 after purchasing an additional 16,535 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Arbutus Biopharma Corporation by 785.1% during the first quarter. Renaissance Technologies LLC now owns 124,573 shares of the biopharmaceutical company’s stock valued at $405,000 after purchasing an additional 110,499 shares in the last quarter. 67.04% of the stock is owned by institutional investors and hedge funds.

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Arbutus Biopharma Corporation Company Profile

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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