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

Chardan Capital reiterated their buy rating on shares of Arbutus Biopharma (NASDAQ:ABUS) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $4.00 price objective on the biopharmaceutical company’s stock.

Several other research analysts have also recently issued reports on ABUS. JMP Securities reiterated a market outperform rating and issued a $4.00 price objective on shares of Arbutus Biopharma in a research report on Thursday, April 4th. HC Wainwright cut their price target on shares of Arbutus Biopharma from $6.00 to $5.00 and set a buy rating for the company in a report on Friday, March 1st.

Arbutus Biopharma Stock Up 1.1 %

NASDAQ ABUS opened at $2.71 on Friday. The stock 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 has a 50-day moving average price of $2.74 and a 200 day moving average price of $2.41.

Arbutus Biopharma (NASDAQ:ABUS) last released its earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.12). The company had revenue of $2.15 million for the quarter, compared to analysts’ expectations of $4.74 million. Arbutus Biopharma had a negative return on equity of 61.98% and a negative net margin of 572.81%. During the same quarter in the previous year, the firm posted ($0.14) EPS. On average, equities research analysts expect that Arbutus Biopharma will post -0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arbutus Biopharma

Institutional investors and hedge funds have recently modified their holdings of the company. Hudson Bay Capital Management LP raised its holdings in Arbutus Biopharma by 45.8% during the third quarter. Hudson Bay Capital Management LP now owns 4,149,904 shares of the biopharmaceutical company’s stock worth $8,424,000 after purchasing an additional 1,302,978 shares during the last quarter. Barclays PLC increased its position in shares of Arbutus Biopharma by 175.3% in the third quarter. Barclays PLC now owns 131,845 shares of the biopharmaceutical company’s stock valued at $268,000 after buying an additional 83,950 shares in the last quarter. Premier Path Wealth Partners LLC acquired a new position in shares of Arbutus Biopharma during the 4th quarter worth $56,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Arbutus Biopharma by 351.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 19,400 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 15,104 shares in the last quarter. Finally, Clear Harbor Asset Management LLC boosted its position in shares of Arbutus Biopharma by 5.7% in the 4th quarter. Clear Harbor Asset Management LLC now owns 139,261 shares of the biopharmaceutical company’s stock worth $348,000 after buying an additional 7,500 shares in the last quarter. Institutional investors and hedge funds 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.