Arbutus Biopharma (NASDAQ:ABUS) Price Target Raised to $4.50 at Chardan Capital

Arbutus Biopharma (NASDAQ:ABUS) had its price objective boosted by equities researchers at Chardan Capital from $4.00 to $4.50 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Chardan Capital’s target price indicates a potential upside of 20.64% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. JMP Securities upped their target price on shares of Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a report on Wednesday. Jefferies Financial Group upped their price objective on shares of Arbutus Biopharma from $5.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Finally, StockNews.com raised shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Arbutus Biopharma currently has a consensus rating of “Moderate Buy” and an average target price of $5.38.

Arbutus Biopharma Stock Down 4.8 %

Arbutus Biopharma stock opened at $3.73 on Wednesday. Arbutus Biopharma has a 52-week low of $1.70 and a 52-week high of $4.72. The firm has a market capitalization of $704.15 million, a price-to-earnings ratio of -8.29 and a beta of 1.92. The company has a fifty day simple moving average of $4.04 and a 200-day simple moving average of $3.58.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its position in Arbutus Biopharma by 7.9% in the second quarter. The Manufacturers Life Insurance Company now owns 57,323 shares of the biopharmaceutical company’s stock valued at $177,000 after buying an additional 4,191 shares during the last quarter. Premier Path Wealth Partners LLC lifted its position in Arbutus Biopharma by 18.0% in the second quarter. Premier Path Wealth Partners LLC now owns 36,000 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 5,500 shares during the last quarter. Creative Planning lifted its position in Arbutus Biopharma by 13.8% in the third quarter. Creative Planning now owns 49,500 shares of the biopharmaceutical company’s stock valued at $191,000 after buying an additional 5,989 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Arbutus Biopharma by 22.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,388 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 6,649 shares during the last quarter. Finally, Verus Capital Partners LLC lifted its position in Arbutus Biopharma by 30.5% in the first quarter. Verus Capital Partners LLC now owns 41,935 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 9,800 shares during the last quarter. Institutional investors and hedge funds own 43.79% of the company’s stock.

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.