Arbutus Biopharma (NASDAQ:ABUS) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Arbutus Biopharma (NASDAQ:ABUSFree Report) in a research report report published on Thursday morning, Marketbeat Ratings reports. The brokerage currently has a $5.00 price target on the biopharmaceutical company’s stock.

Other research analysts have also issued research reports about the company. JMP Securities reissued a market outperform rating and set a $4.00 price objective on shares of Arbutus Biopharma in a report on Thursday, April 4th. Chardan Capital restated a buy rating and issued a $4.00 price objective on shares of Arbutus Biopharma in a research note on Wednesday.

Get Our Latest Stock Report on Arbutus Biopharma

Arbutus Biopharma Stock Performance

NASDAQ:ABUS opened at $3.34 on Thursday. The company has a market capitalization of $630.32 million, a P/E ratio of -7.59 and a beta of 1.98. The stock’s 50 day moving average price is $2.97 and its 200 day moving average price is $2.62. Arbutus Biopharma has a 52 week low of $1.69 and a 52 week high of $3.64.

Arbutus Biopharma (NASDAQ:ABUSGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). The business had revenue of $1.53 million during the quarter, compared to analyst estimates of $2.16 million. Arbutus Biopharma had a negative net margin of 572.81% and a negative return on equity of 62.68%. As a group, sell-side analysts forecast that Arbutus Biopharma will post -0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Hudson Bay Capital Management LP raised its stake in Arbutus Biopharma by 45.8% during the 3rd quarter. Hudson Bay Capital Management LP now owns 4,149,904 shares of the biopharmaceutical company’s stock valued at $8,424,000 after purchasing an additional 1,302,978 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Arbutus Biopharma during the first quarter valued at about $266,000. Barclays PLC lifted its stake in shares of Arbutus Biopharma by 175.3% in the third quarter. Barclays PLC now owns 131,845 shares of the biopharmaceutical company’s stock valued at $268,000 after buying an additional 83,950 shares during the period. BNP Paribas Financial Markets grew its position in Arbutus Biopharma by 19.7% during the first quarter. BNP Paribas Financial Markets now owns 349,435 shares of the biopharmaceutical company’s stock worth $902,000 after buying an additional 57,390 shares in the last quarter. Finally, Cowen AND Company LLC bought a new position in Arbutus Biopharma during the fourth quarter valued at about $125,000. 43.79% of the stock is currently owned by institutional investors and hedge funds.

Arbutus Biopharma Company Profile

(Get Free Report)

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

Featured Articles

Receive News & Ratings for Arbutus Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arbutus Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.