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

Arbutus Biopharma (NASDAQ:ABUS)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They currently have a $5.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target indicates a potential upside of 55.28% from the company’s previous close.

ABUS has been the topic of several other reports. Chardan Capital restated a “buy” rating and set a $5.00 target price (up from $4.50) on shares of Arbutus Biopharma in a research report on Wednesday, November 20th. JMP Securities raised their price objective on shares of Arbutus Biopharma to $5.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $5.50.

Arbutus Biopharma Trading Up 0.3 %

Shares of ABUS stock opened at $3.22 on Tuesday. The stock has a 50 day simple moving average of $3.40 and a 200-day simple moving average of $3.72. The company has a market cap of $610.16 million, a price-to-earnings ratio of -7.49 and a beta of 1.78. Arbutus Biopharma has a 12-month low of $2.27 and a 12-month high of $4.72.

Institutional Investors Weigh In On Arbutus Biopharma

Several institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp raised its position in Arbutus Biopharma by 50.2% during the third quarter. State Street Corp now owns 4,407,133 shares of the biopharmaceutical company’s stock worth $16,967,000 after acquiring an additional 1,472,652 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position 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 worth $4,667,000 after purchasing an additional 831,663 shares during the last quarter. Barclays PLC grew its holdings 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 buying an additional 223,995 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Arbutus Biopharma during the third quarter worth $754,000. Finally, Geode Capital Management LLC raised its holdings in shares of Arbutus Biopharma by 4.1% in the third quarter. Geode Capital Management LLC now owns 3,448,600 shares of the biopharmaceutical company’s stock worth $13,280,000 after acquiring an additional 135,442 shares during the last quarter. 43.79% of the stock is currently owned by hedge funds and other institutional investors.

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.