Arbutus Biopharma Corp (NASDAQ:ABUS) Insider Sells $100,200.00 in Stock

Arbutus Biopharma Corp (NASDAQ:ABUS) insider Michael J. Mcelhaugh sold 20,000 shares of the stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $5.01, for a total transaction of $100,200.00. Following the transaction, the insider now directly owns 1,367,457 shares in the company, valued at approximately $6,850,959.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

ABUS opened at $4.04 on Thursday. The company has a fifty day simple moving average of $2.34 and a 200 day simple moving average of $2.22. Arbutus Biopharma Corp has a twelve month low of $0.82 and a twelve month high of $9.02.

Arbutus Biopharma (NASDAQ:ABUS) last released its quarterly earnings results on Monday, May 11th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.06. The firm had revenue of $1.49 million for the quarter, compared to analyst estimates of $1.81 million. Equities analysts forecast that Arbutus Biopharma Corp will post -0.87 earnings per share for the current year.

A number of equities analysts have weighed in on the stock. Chardan Capital reaffirmed a “buy” rating and set a $5.00 price target on shares of Arbutus Biopharma in a research note on Wednesday, May 13th. B. Riley increased their price target on shares of Arbutus Biopharma from $6.00 to $8.00 in a research note on Monday. Zacks Investment Research raised shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a research note on Tuesday, July 21st. JMP Securities started coverage on shares of Arbutus Biopharma in a research note on Monday. They issued an “outperform” rating and a $8.00 target price on the stock. Finally, Robert W. Baird downgraded shares of Arbutus Biopharma from an “outperform” rating to a “neutral” rating in a research note on Friday, July 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $5.04.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Oxford Asset Management LLP acquired a new position in shares of Arbutus Biopharma in the 4th quarter valued at about $61,000. Spark Investment Management LLC bought a new stake in Arbutus Biopharma in the 1st quarter valued at about $28,000. Creative Planning bought a new stake in Arbutus Biopharma in the 2nd quarter valued at about $60,000. Squarepoint Ops LLC bought a new stake in Arbutus Biopharma in the 1st quarter valued at about $43,000. Finally, Wedbush Securities Inc. bought a new stake in Arbutus Biopharma in the 1st quarter valued at about $43,000. 38.12% of the stock is owned by institutional investors and hedge funds.

About Arbutus Biopharma

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. Its HBV product pipeline consists of AB-506, a capsid inhibitor that has shown improved potency and pharmacokinetics over its first generation capsid inhibitor; and AB-423, which is in pre-clinical studies.

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