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

HC Wainwright restated their buy rating on shares of Arbutus Biopharma (NASDAQ:ABUS) in a report published on Tuesday morning,Benzinga reports. HC Wainwright currently has a $5.00 price target on the biopharmaceutical company’s stock.

Several other brokerages have also recently weighed in on ABUS. Chardan Capital restated a “buy” rating and issued a $5.00 price objective (up previously from $4.50) on shares of Arbutus Biopharma in a report on Wednesday, November 20th. JMP Securities increased their price target on Arbutus Biopharma to $5.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.50.

Arbutus Biopharma Trading Up 3.7 %

Shares of ABUS opened at $3.34 on Tuesday. The stock has a market capitalization of $632.90 million, a price-to-earnings ratio of -7.77 and a beta of 1.78. Arbutus Biopharma has a 12 month low of $2.27 and a 12 month high of $4.72. The firm has a fifty day simple moving average of $3.39 and a 200 day simple moving average of $3.72.

Hedge Funds Weigh In On Arbutus Biopharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its holdings in shares of Arbutus Biopharma by 8.6% during the second quarter. Rhumbline Advisers now owns 185,067 shares of the biopharmaceutical company’s stock worth $572,000 after acquiring an additional 14,607 shares during the period. XTX Topco Ltd bought a new stake in Arbutus Biopharma in the 2nd quarter valued at $53,000. Bank of Montreal Can grew its holdings in Arbutus Biopharma by 6.1% in the 2nd quarter. Bank of Montreal Can now owns 354,813 shares of the biopharmaceutical company’s stock valued at $1,100,000 after buying an additional 20,548 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Arbutus Biopharma by 7.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 57,323 shares of the biopharmaceutical company’s stock worth $177,000 after buying an additional 4,191 shares during the period. Finally, Susquehanna Fundamental Investments LLC lifted its holdings in shares of Arbutus Biopharma by 102.2% during the second quarter. Susquehanna Fundamental Investments LLC now owns 208,152 shares of the biopharmaceutical company’s stock worth $643,000 after buying an additional 105,228 shares in the last quarter. 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.