Arbutus Biopharma (NASDAQ:ABUS) Stock Rating Reaffirmed by HC Wainwright

Arbutus Biopharma (NASDAQ:ABUSGet Free Report)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report released on Thursday, MarketBeat.com reports. They presently have a $5.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 56.25% from the company’s current price.

A number of other brokerages have also recently issued reports on ABUS. JMP Securities restated a “market outperform” rating and issued a $4.00 target price on shares of Arbutus Biopharma in a report on Thursday, April 4th. Chardan Capital reiterated a “buy” rating and issued a $4.00 price target on shares of Arbutus Biopharma in a research report on Wednesday.

View Our Latest Stock Analysis on ABUS

Arbutus Biopharma Trading Down 4.2 %

NASDAQ:ABUS opened at $3.20 on Thursday. The company has a 50-day moving average of $2.98 and a 200-day moving average of $2.63. The firm has a market cap of $603.89 million, a price-to-earnings ratio of -7.27 and a beta of 1.98. Arbutus Biopharma has a twelve month low of $1.69 and a twelve month high of $3.64.

Arbutus Biopharma (NASDAQ:ABUSGet Free Report) last issued its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.10). The firm had revenue of $1.53 million during the quarter, compared to analysts’ expectations of $2.16 million. Arbutus Biopharma had a negative net margin of 572.81% and a negative return on equity of 62.68%. On average, research analysts forecast that Arbutus Biopharma will post -0.39 earnings per share for the current year.

Hedge Funds Weigh In On Arbutus Biopharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABUS. Hudson Bay Capital Management LP grew its holdings in shares of Arbutus Biopharma by 45.8% during the third quarter. Hudson Bay Capital Management LP now owns 4,149,904 shares of the biopharmaceutical company’s stock valued at $8,424,000 after buying an additional 1,302,978 shares in the last quarter. Kennedy Capital Management LLC boosted its position in Arbutus Biopharma by 12.7% during the 1st 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 period. BNP Paribas Financial Markets grew its stake in Arbutus Biopharma by 19.7% during 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 in the last quarter. Clear Harbor Asset Management LLC increased its holdings in shares of Arbutus Biopharma by 5.7% in the 4th quarter. Clear Harbor Asset Management LLC now owns 139,261 shares of the biopharmaceutical company’s stock valued at $348,000 after purchasing an additional 7,500 shares during the period. Finally, Barclays PLC increased its holdings in shares of Arbutus Biopharma by 175.3% in the 3rd quarter. Barclays PLC now owns 131,845 shares of the biopharmaceutical company’s stock valued at $268,000 after purchasing an additional 83,950 shares during the period. 43.79% of the stock is currently owned by hedge funds and other institutional investors.

Arbutus Biopharma Company Profile

(Get Free Report)

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.

Further Reading

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