Arbutus Biopharma’s (ABUS) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Arbutus Biopharma (NASDAQ:ABUS) in a research report sent to investors on Thursday morning,Benzinga reports. HC Wainwright currently has a $5.00 target price on the biopharmaceutical company’s stock.

Several other research firms have also weighed in on ABUS. Jefferies Financial Group increased their target price on shares of Arbutus Biopharma from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, September 5th. Chardan Capital upped their price objective on shares of Arbutus Biopharma from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Wednesday, November 6th. JMP Securities raised their price objective on Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, StockNews.com raised Arbutus Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.38.

Arbutus Biopharma Price Performance

Shares of ABUS stock opened at $3.75 on Thursday. The stock has a market cap of $710.59 million, a PE ratio of -8.72 and a beta of 1.92. The stock has a 50-day moving average of $4.03 and a 200-day moving average of $3.59. Arbutus Biopharma has a one year low of $1.70 and a one year high of $4.72.

Institutional Investors Weigh In On Arbutus Biopharma

Institutional investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC bought a new position in Arbutus Biopharma during the 3rd quarter worth about $142,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Arbutus Biopharma by 63.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 36,309 shares of the biopharmaceutical company’s stock worth $140,000 after buying an additional 14,138 shares during the period. Creative Planning grew its holdings in shares of Arbutus Biopharma by 13.8% during the third quarter. Creative Planning now owns 49,500 shares of the biopharmaceutical company’s stock worth $191,000 after buying an additional 5,989 shares in the last quarter. Helen Stephens Group LLC acquired a new stake in Arbutus Biopharma in the 3rd quarter valued at approximately $50,000. Finally, SG Americas Securities LLC acquired a new position in Arbutus Biopharma during the 3rd quarter worth approximately $204,000. 43.79% of the stock is owned by institutional investors.

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.