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

Arbutus Biopharma (NASDAQ:ABUS)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $5.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 43.27% from the stock’s current price.

ABUS has been the topic of several other research reports. StockNews.com upgraded shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Chardan Capital upped 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. Jefferies Financial Group lifted their price target on Arbutus Biopharma from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. Finally, JMP Securities increased their price objective on Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.38.

Arbutus Biopharma Stock Down 0.9 %

Arbutus Biopharma stock opened at $3.49 on Monday. The company has a market capitalization of $661.32 million, a PE ratio of -8.12 and a beta of 1.92. Arbutus Biopharma has a 12-month low of $1.79 and a 12-month high of $4.72. The firm’s fifty day moving average is $3.96 and its 200 day moving average is $3.63.

Hedge Funds Weigh In On Arbutus Biopharma

Several institutional investors have recently added to or reduced their stakes in the stock. Rubric Capital Management LP purchased a new position in Arbutus Biopharma in the second quarter valued at about $5,195,000. Kennedy Capital Management LLC grew its holdings in Arbutus Biopharma by 12.7% during the first quarter. Kennedy Capital Management LLC now owns 436,506 shares of the biopharmaceutical company’s stock valued at $1,126,000 after purchasing an additional 49,265 shares during the period. Walleye Trading LLC purchased a new stake in Arbutus Biopharma in the first quarter worth $36,000. Creative Planning raised its stake in shares of Arbutus Biopharma by 13.8% in the third quarter. Creative Planning now owns 49,500 shares of the biopharmaceutical company’s stock valued at $191,000 after buying an additional 5,989 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Arbutus Biopharma by 22.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,388 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 6,649 shares during the last quarter. Institutional investors 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.