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

Arbutus Biopharma (NASDAQ:ABUS)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They currently have a $5.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 33.33% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group upped their target price on shares of Arbutus Biopharma from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. JMP Securities upped their price objective on Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a report on Wednesday. Chardan Capital increased their price objective on Arbutus Biopharma from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Wednesday. Finally, StockNews.com upgraded Arbutus Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.38.

Arbutus Biopharma Stock Up 0.5 %

Shares of NASDAQ ABUS opened at $3.75 on Thursday. Arbutus Biopharma has a 12-month low of $1.70 and a 12-month high of $4.72. The firm’s 50-day simple moving average is $4.03 and its 200 day simple moving average is $3.58. The company has a market cap of $707.93 million, a price-to-earnings ratio of -8.72 and a beta of 1.92.

Institutional Trading of Arbutus Biopharma

A number of institutional investors have recently bought and sold shares of the business. nVerses Capital LLC bought a new position in shares of Arbutus Biopharma in the 2nd quarter worth $34,000. Walleye Trading LLC acquired a new position in Arbutus Biopharma in the first quarter valued at about $36,000. Helen Stephens Group LLC acquired a new position in Arbutus Biopharma in the third quarter valued at about $50,000. XTX Topco Ltd bought a new position in Arbutus Biopharma during the second quarter worth about $53,000. Finally, Price T Rowe Associates Inc. MD grew 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 worth $94,000 after buying an additional 6,649 shares during the period. Institutional investors and hedge funds own 43.79% of the company’s stock.

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.