Arbutus Biopharma (NASDAQ:ABUS) Earns “Buy” Rating from Chardan Capital

Arbutus Biopharma (NASDAQ:ABUS)‘s stock had its “buy” rating reiterated by equities research analysts at Chardan Capital in a report released on Wednesday, Marketbeat reports. They currently have a $5.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $4.50. Chardan Capital’s target price points to a potential upside of 44.51% from the stock’s previous close.

Several other brokerages have also weighed in on ABUS. HC Wainwright reissued a “buy” rating and set a $5.00 target price on shares of Arbutus Biopharma in a research report on Monday. StockNews.com raised Arbutus Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. Jefferies Financial Group lifted their price target on Arbutus Biopharma from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. Finally, JMP Securities lifted their price target on Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.50.

Arbutus Biopharma Stock Performance

Shares of ABUS opened at $3.46 on Wednesday. The stock has a 50-day simple moving average of $3.92 and a 200-day simple moving average of $3.64. The stock has a market capitalization of $655.64 million, a PE ratio of -8.00 and a beta of 1.92. Arbutus Biopharma has a 1 year low of $1.79 and a 1 year high of $4.72.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ABUS. nVerses Capital LLC purchased a new stake in Arbutus Biopharma during the second quarter worth $34,000. Walleye Trading LLC acquired a new position in shares of Arbutus Biopharma in the first quarter worth $36,000. Helen Stephens Group LLC acquired a new position in shares of Arbutus Biopharma in the third quarter worth $50,000. XTX Topco Ltd acquired a new position in shares of Arbutus Biopharma in the second quarter worth $53,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Arbutus Biopharma by 22.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,388 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 6,649 shares during the last quarter. 43.79% of the stock is currently owned by hedge funds and other institutional investors.

About Arbutus Biopharma

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.