Arbutus Biopharma’s (ABUS) Buy Rating Reaffirmed at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Arbutus Biopharma (NASDAQ:ABUS) in a research note released on Friday morning,Benzinga reports. The brokerage currently has a $5.00 price objective on the biopharmaceutical company’s stock. Chardan Capital also issued estimates for Arbutus Biopharma’s FY2025 earnings at ($0.30) EPS.

ABUS has been the subject of several other reports. StockNews.com lowered Arbutus Biopharma from a “hold” rating to a “sell” rating in a research report on Thursday, March 13th. HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of Arbutus Biopharma in a research note on Tuesday, January 21st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Arbutus Biopharma presently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Arbutus Biopharma Price Performance

NASDAQ:ABUS opened at $3.50 on Friday. Arbutus Biopharma has a 1-year low of $2.30 and a 1-year high of $4.73. The company has a 50-day moving average of $3.34 and a 200 day moving average of $3.57. The firm has a market cap of $663.22 million, a PE ratio of -8.14 and a beta of 1.93.

Arbutus Biopharma (NASDAQ:ABUS) last announced its quarterly earnings results on Thursday, March 27th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. The firm had revenue of $1.57 million during the quarter, compared to analysts’ expectations of $2.20 million. Arbutus Biopharma had a negative net margin of 1,137.65% and a negative return on equity of 68.18%. Sell-side analysts anticipate that Arbutus Biopharma will post -0.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ABUS. SBI Securities Co. Ltd. purchased a new stake in shares of Arbutus Biopharma during the fourth quarter worth about $236,000. Charles Schwab Investment Management Inc. boosted its stake in Arbutus Biopharma by 218.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,212,246 shares of the biopharmaceutical company’s stock worth $4,667,000 after purchasing an additional 831,663 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Arbutus Biopharma during the 3rd quarter worth approximately $754,000. Barclays PLC increased its stake in Arbutus Biopharma by 466.3% during the 3rd quarter. Barclays PLC now owns 272,029 shares of the biopharmaceutical company’s stock valued at $1,047,000 after purchasing an additional 223,995 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Arbutus Biopharma by 50.2% in the third 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 during the last quarter. 43.79% of the stock is owned by institutional investors and hedge funds.

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.