Arbutus Biopharma’s (ABUS) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Arbutus Biopharma (NASDAQ:ABUS) in a research report sent to investors on Thursday,Benzinga reports. HC Wainwright currently has a $5.00 price target on the biopharmaceutical company’s stock.

Several other analysts have also weighed in on the company. Jefferies Financial Group upped their target price on Arbutus Biopharma from $5.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, September 5th. JMP Securities increased their price objective on shares of Arbutus Biopharma to $5.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com upgraded shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, Chardan Capital increased their price target on shares of Arbutus Biopharma from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.38.

Arbutus Biopharma Price Performance

ABUS opened at $3.75 on Thursday. Arbutus Biopharma has a 1-year low of $1.70 and a 1-year high of $4.72. The stock has a market cap of $707.93 million, a P/E ratio of -8.72 and a beta of 1.92. The stock’s 50 day simple moving average is $4.03 and its 200 day simple moving average is $3.58.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rubric Capital Management LP purchased a new stake in shares of Arbutus Biopharma during the second quarter worth about $5,195,000. Bank of New York Mellon Corp boosted its position in Arbutus Biopharma by 21.1% during the second quarter. Bank of New York Mellon Corp now owns 493,729 shares of the biopharmaceutical company’s stock worth $1,526,000 after acquiring an additional 86,104 shares during the last quarter. Kennedy Capital Management LLC boosted its position in Arbutus Biopharma by 12.7% during the first quarter. Kennedy Capital Management LLC now owns 436,506 shares of the biopharmaceutical company’s stock worth $1,126,000 after acquiring an additional 49,265 shares during the last quarter. Bank of Montreal Can grew its stake in Arbutus Biopharma by 6.1% in the 2nd quarter. Bank of Montreal Can now owns 354,813 shares of the biopharmaceutical company’s stock worth $1,100,000 after acquiring an additional 20,548 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in Arbutus Biopharma by 19.7% in the 1st quarter. BNP Paribas Financial Markets now owns 349,435 shares of the biopharmaceutical company’s stock valued at $902,000 after acquiring an additional 57,390 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.