Arbutus Biopharma (NASDAQ:ABUS) Given "Buy" Rating at Chardan Capital

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Chardan Capital in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $4.00 target price on the biopharmaceutical company's stock. Chardan Capital's price target would indicate a potential upside of 47.60% from the company's current price.

Other research analysts also recently issued research reports about the company. JMP Securities restated a "market outperform" rating and issued a $4.00 target price on shares of Arbutus Biopharma in a research note on Thursday, April 4th. HC Wainwright decreased their price objective on shares of Arbutus Biopharma from $6.00 to $5.00 and set a "buy" rating on the stock in a research report on Friday, March 1st.

Arbutus Biopharma Stock Performance

Shares of Arbutus Biopharma stock traded up $0.03 on Friday, reaching $2.71. 683,613 shares of the company's stock were exchanged, compared to its average volume of 1,217,515. The company has a market capitalization of $486.42 million, a P/E ratio of -6.16 and a beta of 2.05. Arbutus Biopharma has a 52 week low of $1.69 and a 52 week high of $3.29. The firm's 50-day moving average is $2.74 and its two-hundred day moving average is $2.40.

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

Institutional Investors Weigh In On Arbutus Biopharma

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC boosted its stake in shares of Arbutus Biopharma by 15.3% during the fourth quarter. SG Americas Securities LLC now owns 46,172 shares of the biopharmaceutical company's stock valued at $115,000 after purchasing an additional 6,117 shares during the period. Clear Harbor Asset Management LLC increased its position in shares of Arbutus Biopharma by 5.7% in the fourth quarter. Clear Harbor Asset Management LLC now owns 139,261 shares of the biopharmaceutical company's stock valued at $348,000 after acquiring an additional 7,500 shares during the period. Premier Path Wealth Partners LLC raised its stake in shares of Arbutus Biopharma by 37.4% during the first quarter. Premier Path Wealth Partners LLC now owns 30,500 shares of the biopharmaceutical company's stock valued at $79,000 after acquiring an additional 8,300 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Arbutus Biopharma by 66.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 32,233 shares of the biopharmaceutical company's stock valued at $83,000 after acquiring an additional 12,833 shares during the last quarter. Finally, PFG Investments LLC bought a new position in shares of Arbutus Biopharma during the first quarter valued at about $50,000. Hedge funds and other institutional investors own 43.79% of the company's stock.

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.