Arbutus Biopharma’s (ABUS) Buy Rating Reiterated at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Arbutus Biopharma (NASDAQ:ABUS) in a research note released on Friday morning,Benzinga reports. They currently have a $5.00 price objective on the biopharmaceutical company’s stock.

Several other research analysts also recently issued reports on ABUS. Wall Street Zen downgraded Arbutus Biopharma from a “buy” rating to a “hold” rating in a research report on Friday, September 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arbutus Biopharma in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.00.

Arbutus Biopharma Stock Performance

Arbutus Biopharma stock opened at $4.52 on Friday. Arbutus Biopharma has a fifty-two week low of $2.70 and a fifty-two week high of $5.10. The firm has a market capitalization of $866.48 million, a price-to-earnings ratio of -15.59 and a beta of 1.07. The stock’s fifty day moving average is $4.47 and its two-hundred day moving average is $3.76.

Arbutus Biopharma (NASDAQ:ABUS) last released its quarterly earnings data on Thursday, November 13th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. Arbutus Biopharma had a negative net margin of 352.24% and a negative return on equity of 59.28%. The business had revenue of $0.53 million for the quarter, compared to analyst estimates of $1.31 million. As a group, sell-side analysts forecast that Arbutus Biopharma will post -0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Arbutus Biopharma

Hedge funds and other institutional investors have recently modified their holdings of the stock. Oxford Asset Management LLP bought a new position in shares of Arbutus Biopharma during the second quarter worth about $38,000. Brooklyn Investment Group raised its stake in Arbutus Biopharma by 3,485.6% during the third quarter. Brooklyn Investment Group now owns 14,163 shares of the biopharmaceutical company’s stock valued at $64,000 after buying an additional 13,768 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Arbutus Biopharma by 3,911.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 15,844 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 15,449 shares during the last quarter. Prudential Financial Inc. grew its position in shares of Arbutus Biopharma by 71.5% in the 2nd quarter. Prudential Financial Inc. now owns 18,255 shares of the biopharmaceutical company’s stock worth $56,000 after acquiring an additional 7,610 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of Arbutus Biopharma in the 1st quarter valued at approximately $65,000. Institutional investors own 43.79% of the company’s stock.

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.