FY2023 EPS Estimates for Arbutus Biopharma Co. (NASDAQ:ABUS) Lowered by Analyst

Arbutus Biopharma Co. (NASDAQ:ABUS) – Equities research analysts at Chardan Capital cut their FY2023 EPS estimates for Arbutus Biopharma in a report released on Wednesday, November 8th. Chardan Capital analyst K. Nakae now anticipates that the biopharmaceutical company will earn ($0.46) per share for the year, down from their prior estimate of ($0.41). Chardan Capital has a “Buy” rating and a $6.00 price objective on the stock. The consensus estimate for Arbutus Biopharma’s current full-year earnings is ($0.45) per share. Chardan Capital also issued estimates for Arbutus Biopharma’s FY2024 earnings at ($0.42) EPS.

ABUS has been the topic of several other research reports. HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of Arbutus Biopharma in a report on Tuesday, September 12th. StockNews.com initiated coverage on shares of Arbutus Biopharma in a report on Thursday, October 5th. They set a “hold” rating on the stock.

Arbutus Biopharma Trading Down 1.7 %

Shares of NASDAQ ABUS opened at $1.77 on Monday. The firm’s 50-day moving average price is $1.91 and its 200-day moving average price is $2.17. Arbutus Biopharma has a 1-year low of $1.69 and a 1-year high of $3.15. The firm has a market capitalization of $296.83 million, a P/E ratio of -3.85 and a beta of 1.93.

Institutional Investors Weigh In On Arbutus Biopharma

Institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD acquired a new stake in shares of Arbutus Biopharma in the 2nd quarter worth about $27,000. Verition Fund Management LLC acquired a new stake in shares of Arbutus Biopharma in the 2nd quarter worth about $28,000. Principal Financial Group Inc. acquired a new stake in shares of Arbutus Biopharma in the 2nd quarter worth about $32,000. Squarepoint Ops LLC acquired a new stake in shares of Arbutus Biopharma in the 4th quarter worth about $32,000. Finally, Simplicity Solutions LLC bought a new stake in Arbutus Biopharma in the 1st quarter worth about $33,000. Institutional investors and hedge funds own 39.52% of the company’s stock.

Arbutus Biopharma Company Profile

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection, SARS-CoV-2, and other coronaviruses in the United States. Its HBV product pipeline consists of AB-729, a proprietary subcutaneously-delivered RNAi therapeutic product candidate that suppresses all HBV antigens, including HBsAg expression.