MetLife Investment Management LLC Boosts Stock Position in Arbutus Biopharma Co. (NASDAQ:ABUS)

MetLife Investment Management LLC boosted its holdings in Arbutus Biopharma Co. (NASDAQ:ABUS – Get Rating) by 66.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,456 shares of the biopharmaceutical company’s stock after buying an additional 23,312 shares during the quarter. MetLife Investment Management LLC’s holdings in Arbutus Biopharma were worth $112,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Sawtooth Solutions LLC purchased a new position in shares of Arbutus Biopharma during the third quarter worth about $27,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Arbutus Biopharma during the second quarter worth about $27,000. Verition Fund Management LLC purchased a new position in shares of Arbutus Biopharma during the second quarter worth about $28,000. Arete Wealth Advisors LLC purchased a new position in shares of Arbutus Biopharma during the third quarter worth about $29,000. Finally, Apollon Wealth Management LLC purchased a new position in shares of Arbutus Biopharma during the second quarter worth about $31,000. Hedge funds and other institutional investors own 31.03% of the company’s stock.

Analysts Set New Price Targets

ABUS has been the topic of several research reports. Chardan Capital reaffirmed a “buy” rating and set a $6.00 price objective on shares of Arbutus Biopharma in a report on Friday. HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of Arbutus Biopharma in a research note on Friday.

Arbutus Biopharma Trading Up 1.8 %

Shares of ABUS opened at $2.86 on Monday. Arbutus Biopharma Co. has a fifty-two week low of $1.85 and a fifty-two week high of $3.22. The firm has a 50-day simple moving average of $2.70 and a 200-day simple moving average of $2.46. The company has a current ratio of 4.60, a quick ratio of 4.60 and a debt-to-equity ratio of 0.04.

Arbutus Biopharma Company Profile

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Arbutus Biopharma Corp. is a biopharmaceutical company. It engages in discovering, developing and commercializing a cure for patients suffering from chronic Hepatitis B virus infection. The company was founded in 2007 and is headquartered in Warminster, PA.