Arbutus Biopharma (NASDAQ:ABUS) Stock Price Expected to Rise, Chardan Capital Analyst Says

Arbutus Biopharma (NASDAQ:ABUS) had its price target raised by Chardan Capital from $4.00 to $4.50 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Several other research firms have also recently commented on ABUS. Jefferies Financial Group boosted their price target on shares of Arbutus Biopharma from $5.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, September 5th. JMP Securities lifted their price objective on Arbutus Biopharma to $5.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, StockNews.com raised Arbutus Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Arbutus Biopharma has a consensus rating of “Moderate Buy” and an average target price of $5.38.

Arbutus Biopharma Stock Performance

ABUS stock opened at $3.75 on Wednesday. The stock has a market cap of $707.93 million, a P/E ratio of -8.72 and a beta of 1.92. The firm has a 50 day simple moving average of $4.03 and a 200 day simple moving average of $3.58. Arbutus Biopharma has a 52 week low of $1.70 and a 52 week high of $4.72.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ABUS. Rubric Capital Management LP bought a new position in shares of Arbutus Biopharma in the 2nd quarter valued at approximately $5,195,000. Susquehanna Fundamental Investments LLC raised its position in shares of Arbutus Biopharma by 102.2% in the second quarter. Susquehanna Fundamental Investments LLC now owns 208,152 shares of the biopharmaceutical company’s stock valued at $643,000 after purchasing an additional 105,228 shares during the period. Bank of New York Mellon Corp raised its position in shares of Arbutus Biopharma by 21.1% in the second quarter. Bank of New York Mellon Corp now owns 493,729 shares of the biopharmaceutical company’s stock valued at $1,526,000 after purchasing an additional 86,104 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Arbutus Biopharma by 19.7% in 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 during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Arbutus Biopharma during the 3rd quarter worth $204,000. 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.