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

Arbutus Biopharma (NASDAQ:ABUS)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $5.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 37.36% from the company’s previous close.

Several other brokerages have also recently issued reports on ABUS. StockNews.com raised Arbutus Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Jefferies Financial Group upped their price target on shares of Arbutus Biopharma from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. JMP Securities lifted their price objective on shares of Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Chardan Capital boosted their target price on shares of Arbutus Biopharma from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.38.

Arbutus Biopharma Price Performance

ABUS stock opened at $3.64 on Monday. The company has a market capitalization of $689.75 million, a price-to-earnings ratio of -8.47 and a beta of 1.92. Arbutus Biopharma has a 1-year low of $1.75 and a 1-year high of $4.72. The business has a 50 day simple moving average of $3.98 and a two-hundred day simple moving average of $3.62.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its position in Arbutus Biopharma by 22.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 36,388 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 6,649 shares in the last quarter. Kennedy Capital Management LLC grew its position in shares of Arbutus Biopharma by 12.7% in the 1st quarter. Kennedy Capital Management LLC now owns 436,506 shares of the biopharmaceutical company’s stock worth $1,126,000 after buying an additional 49,265 shares during the last quarter. Tidal Investments LLC bought a new position in shares of Arbutus Biopharma during the 1st quarter worth approximately $111,000. Walleye Trading LLC acquired a new stake in Arbutus Biopharma in the first quarter valued at approximately $36,000. Finally, Premier Path Wealth Partners LLC grew its holdings in Arbutus Biopharma by 18.0% in the second quarter. Premier Path Wealth Partners LLC now owns 36,000 shares of the biopharmaceutical company’s stock worth $111,000 after purchasing an additional 5,500 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.