Millennium Management LLC Purchases 73,882 Shares of Arbutus Biopharma Corp (ABUS)
Millennium Management LLC raised its position in shares of Arbutus Biopharma Corp (NASDAQ:ABUS) by 559.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 87,089 shares of the biopharmaceutical company’s stock after purchasing an additional 73,882 shares during the quarter. Millennium Management LLC’s holdings in Arbutus Biopharma were worth $636,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers bought a new stake in shares of Arbutus Biopharma during the 2nd quarter valued at about $243,000. Algert Global LLC bought a new stake in shares of Arbutus Biopharma during the 2nd quarter valued at about $254,000. Schwab Charles Investment Management Inc. bought a new stake in shares of Arbutus Biopharma during the 2nd quarter valued at about $482,000. PNC Financial Services Group Inc. bought a new stake in shares of Arbutus Biopharma during the 2nd quarter valued at about $493,000. Finally, Citadel Advisors LLC grew its stake in shares of Arbutus Biopharma by 21.3% during the 2nd quarter. Citadel Advisors LLC now owns 78,617 shares of the biopharmaceutical company’s stock valued at $574,000 after purchasing an additional 13,820 shares during the period. Institutional investors and hedge funds own 39.98% of the company’s stock.
ABUS stock opened at $4.65 on Friday. Arbutus Biopharma Corp has a twelve month low of $4.01 and a twelve month high of $12.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.67 and a current ratio of 13.67. The stock has a market cap of $274.25 million, a PE ratio of -2.60 and a beta of 1.59.
In other news, insider Michael J. Sofia sold 4,250 shares of Arbutus Biopharma stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $9.51, for a total transaction of $40,417.50. Following the transaction, the insider now directly owns 1,499,153 shares of the company’s stock, valued at approximately $14,256,945.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.60% of the stock is owned by insiders.
A number of research firms have issued reports on ABUS. JMP Securities downgraded Arbutus Biopharma to a “market perform” rating in a research note on Tuesday, October 9th. B. Riley raised Arbutus Biopharma from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $11.50 to $9.00 in a research report on Tuesday, October 16th. Zacks Investment Research cut Arbutus Biopharma from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. BidaskClub cut Arbutus Biopharma from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 11th. Finally, ValuEngine cut Arbutus Biopharma from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $7.63.
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Arbutus Biopharma Company Profile
Arbutus Biopharma Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of a cure for patients suffering from chronic Hepatitis B virus (HBV) infection in Canada and the United States. It also develops a pipeline of products based on RNA interference therapeutics (RNAi).
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