Arbutus Biopharma (NASDAQ:ABUS) Upgraded by StockNews.com to “Hold” Rating

Arbutus Biopharma (NASDAQ:ABUS) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other analysts also recently issued reports on the company. Chardan Capital reissued a “buy” rating and set a $5.00 target price on shares of Arbutus Biopharma in a research note on Friday. HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of Arbutus Biopharma in a research report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

Arbutus Biopharma Trading Up 7.0 %

Shares of ABUS stock opened at $3.50 on Friday. The stock has a market cap of $663.22 million, a P/E ratio of -8.14 and a beta of 1.93. Arbutus Biopharma has a 12 month low of $2.30 and a 12 month high of $4.73. The company has a 50 day simple moving average of $3.34 and a two-hundred day simple moving average of $3.57.

Arbutus Biopharma (NASDAQ:ABUS) last announced its quarterly earnings data on Thursday, March 27th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The company had revenue of $1.57 million during the quarter, compared to the consensus estimate of $2.20 million. Arbutus Biopharma had a negative return on equity of 68.18% and a negative net margin of 1,137.65%. As a group, equities analysts forecast that Arbutus Biopharma will post -0.39 earnings per share for the current year.

Institutional Trading of Arbutus Biopharma

Several institutional investors and hedge funds have recently made changes to their positions in the business. Intech Investment Management LLC bought a new position in shares of Arbutus Biopharma in the third quarter worth about $142,000. Charles Schwab Investment Management Inc. boosted its position in Arbutus Biopharma by 218.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,212,246 shares of the biopharmaceutical company’s stock valued at $4,667,000 after buying an additional 831,663 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Arbutus Biopharma by 453.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,503 shares of the biopharmaceutical company’s stock worth $144,000 after acquiring an additional 30,723 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Arbutus Biopharma during the third quarter worth approximately $754,000. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Arbutus Biopharma during the third quarter valued at approximately $243,000. 43.79% of the stock is currently owned by 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.