Arbutus Biopharma (NASDAQ:ABUS) Receives “Buy” Rating from HC Wainwright

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

ABUS has been the topic of several other reports. JMP Securities increased their price objective on Arbutus Biopharma to $5.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Chardan Capital reissued a “buy” rating and issued a $5.00 target price (up from $4.50) on shares of Arbutus Biopharma in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.50.

Arbutus Biopharma Trading Up 0.3 %

Shares of NASDAQ:ABUS opened at $3.21 on Tuesday. The company has a 50 day moving average of $3.41 and a 200 day moving average of $3.72. The stock has a market cap of $608.27 million, a P/E ratio of -7.46 and a beta of 1.78. Arbutus Biopharma has a 12 month low of $2.27 and a 12 month high of $4.72.

Hedge Funds Weigh In On Arbutus Biopharma

Several large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Arbutus Biopharma by 218.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,212,246 shares of the biopharmaceutical company’s stock valued at $4,667,000 after acquiring an additional 831,663 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Arbutus Biopharma in the third quarter worth approximately $754,000. Barclays PLC lifted its stake in shares of Arbutus Biopharma by 466.3% during the 3rd quarter. Barclays PLC now owns 272,029 shares of the biopharmaceutical company’s stock worth $1,047,000 after acquiring an additional 223,995 shares during the last quarter. State Street Corp boosted its holdings in Arbutus Biopharma by 50.2% during the 3rd quarter. State Street Corp now owns 4,407,133 shares of the biopharmaceutical company’s stock valued at $16,967,000 after acquiring an additional 1,472,652 shares during the period. Finally, Wellington Management Group LLP increased its stake in Arbutus Biopharma by 4.6% in the third quarter. Wellington Management Group LLP now owns 496,818 shares of the biopharmaceutical company’s stock worth $1,913,000 after purchasing an additional 21,807 shares during the period. 43.79% of the stock is currently owned by hedge funds and other 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.