Arbutus Biopharma (NASDAQ:ABUS) Upgraded at StockNews.com

StockNews.com upgraded shares of Arbutus Biopharma (NASDAQ:ABUS) from a sell rating to a hold rating in a report released on Saturday morning.

A number of other research analysts have also commented on ABUS. Chardan Capital restated a “buy” rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a research note on Friday. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Arbutus Biopharma in a report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Arbutus Biopharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.50.

Arbutus Biopharma Stock Performance

Arbutus Biopharma stock opened at $3.50 on Friday. The stock has a 50-day simple moving average of $3.34 and a 200-day simple moving average of $3.56. The company has a market capitalization of $663.22 million, a P/E ratio of -8.14 and a beta of 1.93. Arbutus Biopharma has a fifty-two week low of $2.30 and a fifty-two week high of $4.73.

Arbutus Biopharma (NASDAQ:ABUS) last posted its quarterly earnings data on Thursday, March 27th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. The business 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, 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 have recently bought and sold shares of ABUS. Intech Investment Management LLC purchased a new stake in shares of Arbutus Biopharma in the third quarter valued at about $142,000. Charles Schwab Investment Management Inc. lifted its position in Arbutus Biopharma by 218.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,212,246 shares of the biopharmaceutical company’s stock valued at $4,667,000 after purchasing an additional 831,663 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Arbutus Biopharma by 453.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,503 shares of the biopharmaceutical company’s stock valued at $144,000 after purchasing an additional 30,723 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Arbutus Biopharma in the 3rd quarter valued at approximately $754,000. Finally, Rockefeller Capital Management L.P. acquired a new position in Arbutus Biopharma during the 3rd quarter worth approximately $243,000. 43.79% of the stock is owned by institutional investors and hedge funds.

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.