Arbutus Biopharma (NASDAQ:ABUS) was downgraded by investment analysts at BidaskClub from a "buy" rating to a "hold" rating in a research note issued on Wednesday, BidAskClub reports.
Several other research firms have also recently weighed in on ABUS. Chardan Capital reaffirmed a "buy" rating and set a $5.00 price objective on shares of Arbutus Biopharma in a research report on Wednesday, May 13th. Robert W. Baird cut Arbutus Biopharma from an "outperform" rating to a "neutral" rating in a research report on Friday, July 24th. B. Riley upped their price objective on Arbutus Biopharma from $6.00 to $8.00 in a research report on Monday, July 27th. JMP Securities initiated coverage on Arbutus Biopharma in a research report on Monday, July 27th. They set an "outperform" rating and a $8.00 price objective for the company. Finally, Wedbush raised Arbutus Biopharma from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $2.00 to $4.00 in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of "Hold" and an average price target of $5.63.
NASDAQ:ABUS opened at $3.75 on Wednesday. Arbutus Biopharma has a 1 year low of $0.82 and a 1 year high of $9.02. The stock has a market cap of $264.12 million, a price-to-earnings ratio of -1.40 and a beta of 3.25. The stock has a 50-day moving average price of $2.60 and a two-hundred day moving average price of $2.25.
Arbutus Biopharma (NASDAQ:ABUS) last posted its quarterly earnings data on Monday, May 11th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.06. The firm had revenue of $1.49 million for the quarter, compared to analyst estimates of $1.81 million. As a group, equities analysts expect that Arbutus Biopharma will post -0.87 earnings per share for the current year.
In related news, insider Michael J. Mcelhaugh sold 20,000 shares of the company's stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $5.01, for a total transaction of $100,200.00. Following the sale, the insider now owns 1,367,457 shares in the company, valued at $6,850,959.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.70% of the company's stock.
Large investors have recently added to or reduced their stakes in the business. Spark Investment Management LLC bought a new stake in Arbutus Biopharma in the first quarter valued at approximately $28,000. Wedbush Securities Inc. bought a new stake in Arbutus Biopharma in the first quarter valued at approximately $43,000. Squarepoint Ops LLC bought a new stake in Arbutus Biopharma in the first quarter valued at approximately $43,000. Creative Planning bought a new stake in Arbutus Biopharma in the second quarter valued at approximately $60,000. Finally, Jane Street Group LLC bought a new stake in Arbutus Biopharma in the first quarter valued at approximately $73,000. Hedge funds and other institutional investors own 38.12% of the company's stock.
About Arbutus Biopharma
Arbutus Biopharma Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of a cure for patients suffering from chronic Hepatitis B virus (HBV) infection in Canada and the United States. Its HBV product pipeline consists of AB-506, a capsid inhibitor that has shown improved potency and pharmacokinetics over its first generation capsid inhibitor; and AB-423, which is in pre-clinical studies.
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