Arbutus Biopharma (NASDAQ:ABUS) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Arbutus Biopharma (NASDAQ:ABUS) in a report issued on Monday morning,Benzinga reports. The firm currently has a $5.00 target price on the biopharmaceutical company’s stock.

ABUS has been the subject of several other reports. Jefferies Financial Group increased their price objective on shares of Arbutus Biopharma from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. StockNews.com raised shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. Chardan Capital increased their target price on shares of Arbutus Biopharma from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, JMP Securities increased their target price on shares of Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $5.50.

Arbutus Biopharma Stock Performance

Shares of NASDAQ ABUS opened at $3.46 on Monday. Arbutus Biopharma has a 52-week low of $1.79 and a 52-week high of $4.72. The firm has a 50 day moving average price of $3.92 and a two-hundred day moving average price of $3.64. The stock has a market cap of $655.64 million, a P/E ratio of -8.00 and a beta of 1.92.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Rubric Capital Management LP purchased a new stake in Arbutus Biopharma during the second quarter worth about $5,195,000. Kennedy Capital Management LLC increased its holdings 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 buying an additional 49,265 shares during the last quarter. Walleye Trading LLC purchased a new stake in Arbutus Biopharma during the first quarter worth about $36,000. Creative Planning increased its stake in shares of Arbutus Biopharma by 13.8% in the third quarter. Creative Planning now owns 49,500 shares of the biopharmaceutical company’s stock worth $191,000 after purchasing an additional 5,989 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake 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 purchasing an additional 6,649 shares in the last quarter. 43.79% of the stock is owned by institutional investors.

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.