Arbutus Biopharma (NASDAQ:ABUS) Given Buy Rating at Chardan Capital

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. The brokerage currently has a $4.00 target price on the biopharmaceutical company’s stock.

Other research analysts have also recently issued research reports about the company. HC Wainwright dropped their price objective on Arbutus Biopharma from $6.00 to $5.00 and set a buy rating on the stock in a research note on Friday, March 1st. JMP Securities reissued a market outperform rating and issued a $4.00 price objective on shares of Arbutus Biopharma in a research note on Thursday, April 4th.

Arbutus Biopharma Price Performance

Shares of ABUS traded up $0.03 during mid-day trading on Friday, reaching $2.71. 683,613 shares of the company’s stock traded hands, compared to its average volume of 1,196,178. The stock has a market cap of $486.42 million, a P/E ratio of -6.16 and a beta of 2.05. The stock’s 50-day moving average is $2.74 and its two-hundred day moving average is $2.40. Arbutus Biopharma has a 12 month low of $1.69 and a 12 month high of $3.29.

Arbutus Biopharma (NASDAQ:ABUS) last announced its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.12). Arbutus Biopharma had a negative return on equity of 61.98% and a negative net margin of 572.81%. The company had revenue of $2.15 million for the quarter, compared to analysts’ expectations of $4.74 million. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. Research analysts predict that Arbutus Biopharma will post -0.39 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its position in shares of Arbutus Biopharma by 15.3% in the 4th quarter. SG Americas Securities LLC now owns 46,172 shares of the biopharmaceutical company’s stock worth $115,000 after purchasing an additional 6,117 shares in the last quarter. 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 purchasing an additional 7,500 shares in the last quarter. Premier Path Wealth Partners LLC boosted its position in shares of Arbutus Biopharma by 37.4% in the 1st quarter. Premier Path Wealth Partners LLC now owns 30,500 shares of the biopharmaceutical company’s stock worth $79,000 after purchasing an additional 8,300 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Arbutus Biopharma by 66.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 32,233 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 12,833 shares in the last quarter. Finally, PFG Investments LLC acquired a new stake in shares of Arbutus Biopharma in the 1st quarter worth $50,000. 43.79% of the stock is currently owned by hedge funds and other 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.