Arbutus Biopharma (NASDAQ:ABUS) Stock Price Expected to Rise, Chardan Capital Analyst Says

Arbutus Biopharma (NASDAQ:ABUS) had its price target raised by stock analysts at Chardan Capital from $4.00 to $4.50 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Chardan Capital’s target price points to a potential upside of 20.64% from the company’s current price.

ABUS has been the subject of several other reports. Jefferies Financial Group boosted their target price 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 boosted their target price on shares of Arbutus Biopharma to $5.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, StockNews.com upgraded shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Arbutus Biopharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.38.

Arbutus Biopharma Trading Down 4.8 %

Shares of NASDAQ ABUS opened at $3.73 on Wednesday. The company has a 50 day simple moving average of $4.04 and a two-hundred day simple moving average of $3.58. Arbutus Biopharma has a 12 month low of $1.70 and a 12 month high of $4.72. The stock has a market cap of $704.15 million, a price-to-earnings ratio of -8.29 and a beta of 1.92.

Hedge Funds Weigh In On Arbutus Biopharma

A number of large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its position in Arbutus Biopharma by 7.9% during the second quarter. The Manufacturers Life Insurance Company now owns 57,323 shares of the biopharmaceutical company’s stock worth $177,000 after acquiring an additional 4,191 shares during the period. Premier Path Wealth Partners LLC raised its position in Arbutus Biopharma by 18.0% during the second quarter. Premier Path Wealth Partners LLC now owns 36,000 shares of the biopharmaceutical company’s stock worth $111,000 after acquiring an additional 5,500 shares during the period. Creative Planning raised its position in Arbutus Biopharma by 13.8% during the third quarter. Creative Planning now owns 49,500 shares of the biopharmaceutical company’s stock worth $191,000 after acquiring an additional 5,989 shares during the period. Price T Rowe Associates Inc. MD raised 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 worth $94,000 after acquiring an additional 6,649 shares during the period. Finally, Verus Capital Partners LLC raised its position in Arbutus Biopharma by 30.5% during the first quarter. Verus Capital Partners LLC now owns 41,935 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 9,800 shares during the period. 43.79% of the stock is currently owned by institutional investors and hedge funds.

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.