Arbutus Biopharma (NASDAQ:ABUS) Rating Reiterated by JMP Securities

JMP Securities reissued their market outperform rating on shares of Arbutus Biopharma (NASDAQ:ABUS - Free Report) in a research report released on Thursday morning, Benzinga reports. JMP Securities currently has a $4.00 price target on the biopharmaceutical company's stock.

Other analysts have also issued research reports about the company. HC Wainwright reduced their target price on Arbutus Biopharma from $6.00 to $5.00 and set a buy rating for the company in a report on Friday, March 1st. Chardan Capital restated a buy rating and set a $4.00 price objective on shares of Arbutus Biopharma in a research report on Friday, March 1st.

Arbutus Biopharma Trading Up 2.7 %

ABUS stock traded up $0.08 on Thursday, hitting $3.00. 8,080,193 shares of the company's stock traded hands, compared to its average volume of 1,232,284. The stock has a market cap of $538.47 million, a price-to-earnings ratio of -6.82 and a beta of 2.03. Arbutus Biopharma has a 1-year low of $1.69 and a 1-year high of $3.25. The stock has a fifty day moving average of $2.67 and a 200-day moving average of $2.27.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.12). Arbutus Biopharma had a negative return on equity of 57.82% and a negative net margin of 401.57%. The firm had revenue of $2.15 million for the quarter, compared to analysts' expectations of $4.74 million. During the same quarter last year, the business posted ($0.14) EPS. On average, equities research analysts anticipate that Arbutus Biopharma will post -0.39 earnings per share for the current fiscal year.

Institutional Trading of Arbutus Biopharma

A number of institutional investors have recently bought and sold shares of ABUS. JPMorgan Chase & Co. lifted its stake in Arbutus Biopharma by 37.9% in the first quarter. JPMorgan Chase & Co. now owns 58,926 shares of the biopharmaceutical company's stock valued at $175,000 after acquiring an additional 16,189 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Arbutus Biopharma by 4.0% during the 1st quarter. Bank of New York Mellon Corp now owns 367,189 shares of the biopharmaceutical company's stock valued at $1,094,000 after purchasing an additional 14,236 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Arbutus Biopharma by 34.5% in the 1st quarter. Bank of Montreal Can now owns 318,580 shares of the biopharmaceutical company's stock valued at $953,000 after purchasing an additional 81,722 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Arbutus Biopharma by 297.1% in the first quarter. MetLife Investment Management LLC now owns 39,628 shares of the biopharmaceutical company's stock worth $118,000 after purchasing an additional 29,648 shares in the last quarter. Finally, Rhumbline Advisers increased its position in Arbutus Biopharma by 14.6% during the first quarter. Rhumbline Advisers now owns 103,778 shares of the biopharmaceutical company's stock worth $309,000 after buying an additional 13,243 shares during the last quarter. Institutional investors and hedge funds own 43.79% of the company's stock.

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.