Chardan Capital Reaffirms Buy Rating for Arbutus Biopharma (NASDAQ:ABUS)

Chardan Capital restated their buy rating on shares of Arbutus Biopharma (NASDAQ:ABUS) in a research note released on Wednesday morning, MarketBeat reports. Chardan Capital currently has a $5.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $4.50.

Other research analysts have also recently issued research reports about the company. JMP Securities increased their price target on Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Jefferies Financial Group boosted their price target on shares of Arbutus Biopharma from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. HC Wainwright reiterated a “buy” rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a report on Monday, November 18th. Finally, StockNews.com upgraded Arbutus Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.50.

Arbutus Biopharma Stock Performance

Shares of ABUS opened at $3.51 on Wednesday. The firm has a fifty day moving average of $3.88 and a 200-day moving average of $3.64. The company has a market cap of $665.11 million, a price-to-earnings ratio of -8.16 and a beta of 1.92. Arbutus Biopharma has a 1 year low of $1.79 and a 1 year high of $4.72.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Barclays PLC boosted its stake in Arbutus Biopharma by 466.3% in the 3rd quarter. Barclays PLC now owns 272,029 shares of the biopharmaceutical company’s stock worth $1,047,000 after purchasing an additional 223,995 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Arbutus Biopharma by 4.1% during the third quarter. Geode Capital Management LLC now owns 3,448,600 shares of the biopharmaceutical company’s stock worth $13,280,000 after purchasing an additional 135,442 shares during the period. XTX Topco Ltd increased its stake in Arbutus Biopharma by 76.2% in the 3rd quarter. XTX Topco Ltd now owns 30,013 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 12,975 shares during the period. Wellington Management Group LLP lifted its position in Arbutus Biopharma by 4.6% in the 3rd quarter. Wellington Management Group LLP now owns 496,818 shares of the biopharmaceutical company’s stock worth $1,913,000 after buying an additional 21,807 shares in the last quarter. Finally, State Street Corp lifted its position in Arbutus Biopharma by 50.2% in the 3rd quarter. State Street Corp now owns 4,407,133 shares of the biopharmaceutical company’s stock worth $16,967,000 after buying an additional 1,472,652 shares in the last quarter. 43.79% of the stock is owned by hedge funds and other institutional investors.

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.