Arbutus Biopharma (NASDAQ:ABUS) Stock Rating Upgraded by Wall Street Zen

Arbutus Biopharma (NASDAQ:ABUS) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Arbutus Biopharma Price Performance

ABUS stock opened at $3.40 on Friday. The company has a market cap of $651.20 million, a PE ratio of -11.72 and a beta of 0.86. The business has a 50-day simple moving average of $3.32 and a 200 day simple moving average of $3.31. Arbutus Biopharma has a 52 week low of $2.70 and a 52 week high of $4.72.

Arbutus Biopharma (NASDAQ:ABUS) last released its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. Arbutus Biopharma had a negative return on equity of 59.28% and a negative net margin of 352.24%. The firm had revenue of $10.74 million for the quarter, compared to analysts’ expectations of $2.21 million. On average, analysts anticipate that Arbutus Biopharma will post -0.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ABUS. Vanguard Group Inc. grew its holdings in shares of Arbutus Biopharma by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 8,980,864 shares of the biopharmaceutical company’s stock worth $29,367,000 after purchasing an additional 62,282 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Arbutus Biopharma by 900.4% during the fourth quarter. JPMorgan Chase & Co. now owns 896,258 shares of the biopharmaceutical company’s stock worth $2,931,000 after purchasing an additional 806,672 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of Arbutus Biopharma during the fourth quarter worth about $301,000. Woodline Partners LP grew its holdings in shares of Arbutus Biopharma by 45.4% during the fourth quarter. Woodline Partners LP now owns 971,628 shares of the biopharmaceutical company’s stock worth $3,177,000 after purchasing an additional 303,475 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Arbutus Biopharma during the fourth quarter worth about $662,000. Institutional investors own 43.79% 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 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.