HC Wainwright Reaffirms “Buy” Rating for Arbutus Biopharma (NASDAQ:ABUS)

Arbutus Biopharma (NASDAQ:ABUS)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $5.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price points to a potential upside of 43.27% from the company’s current price.

Other equities analysts have also recently issued reports about the company. JMP Securities lifted their price target on Arbutus Biopharma to $5.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Chardan Capital lifted their target price on Arbutus Biopharma from $4.00 to $4.50 and gave the company a “buy” rating in a report on Wednesday, November 6th. StockNews.com upgraded shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, Jefferies Financial Group upped 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. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $5.38.

Arbutus Biopharma Trading Down 0.9 %

Arbutus Biopharma stock opened at $3.49 on Monday. The firm has a 50 day simple moving average of $3.96 and a 200 day simple moving average of $3.63. Arbutus Biopharma has a 1-year low of $1.79 and a 1-year high of $4.72. The firm has a market capitalization of $661.32 million, a price-to-earnings ratio of -8.12 and a beta of 1.92.

Institutional Trading of Arbutus Biopharma

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp increased its stake in Arbutus Biopharma by 50.2% in the third quarter. State Street Corp now owns 4,407,133 shares of the biopharmaceutical company’s stock valued at $16,967,000 after acquiring an additional 1,472,652 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Arbutus Biopharma by 4.1% in the 3rd 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 in the last quarter. Rubric Capital Management LP bought a new position in shares of Arbutus Biopharma during the 2nd quarter valued at about $5,195,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Arbutus Biopharma by 218.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,212,246 shares of the biopharmaceutical company’s stock valued at $4,667,000 after buying an additional 831,663 shares in the last quarter. Finally, 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 during the last quarter. Hedge funds and other institutional investors 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.