Arbutus Biopharma (NASDAQ:ABUS) Receives Buy Rating from 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, MarketBeat Ratings reports. The firm currently has a $5.00 target price on the biopharmaceutical company’s stock.

Several other equities research analysts also recently weighed in on the company. JMP Securities reaffirmed a market outperform rating and set a $4.00 price target on shares of Arbutus Biopharma in a report on Thursday, April 4th. Chardan Capital reissued a buy rating and issued a $4.00 target price on shares of Arbutus Biopharma in a report on Wednesday.

Arbutus Biopharma Stock Down 4.2 %

Shares of Arbutus Biopharma stock opened at $3.20 on Thursday. The firm has a market capitalization of $603.90 million, a P/E ratio of -7.27 and a beta of 1.98. Arbutus Biopharma has a 52 week low of $1.69 and a 52 week high of $3.64. The firm’s 50 day moving average is $2.98 and its two-hundred day moving average is $2.64.

Arbutus Biopharma (NASDAQ:ABUS) last posted its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, meeting the consensus estimate of ($0.10). The business had revenue of $1.53 million during the quarter, compared to the consensus estimate of $2.16 million. Arbutus Biopharma had a negative return on equity of 62.68% and a negative net margin of 572.81%. As a group, research analysts expect that Arbutus Biopharma will post -0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ABUS. Hudson Bay Capital Management LP increased its stake in shares of Arbutus Biopharma by 45.8% during the 3rd quarter. Hudson Bay Capital Management LP now owns 4,149,904 shares of the biopharmaceutical company’s stock valued at $8,424,000 after acquiring an additional 1,302,978 shares during the last quarter. Kennedy Capital Management LLC increased its stake in shares of Arbutus Biopharma by 12.7% during the 1st quarter. Kennedy Capital Management LLC now owns 436,506 shares of the biopharmaceutical company’s stock valued at $1,126,000 after acquiring an additional 49,265 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Arbutus Biopharma by 19.7% during the 1st quarter. BNP Paribas Financial Markets now owns 349,435 shares of the biopharmaceutical company’s stock worth $902,000 after purchasing an additional 57,390 shares during the period. Clear Harbor Asset Management LLC grew its holdings in shares of Arbutus Biopharma by 5.7% during 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 during the period. Finally, Barclays PLC grew its holdings in shares of Arbutus Biopharma by 175.3% during the 3rd quarter. Barclays PLC now owns 131,845 shares of the biopharmaceutical company’s stock worth $268,000 after purchasing an additional 83,950 shares during the period. 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.