Arbutus Biopharma (NASDAQ:ABUS) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Arbutus Biopharma (NASDAQ:ABUS) from a sell rating to a hold rating in a research note published on Saturday morning.

A number of other equities research analysts also recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of Arbutus Biopharma in a research report on Tuesday, January 21st. Chardan Capital reaffirmed a “buy” rating and set a $5.00 target price on shares of Arbutus Biopharma in a report on Friday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $5.50.

Arbutus Biopharma Stock Down 0.3 %

NASDAQ:ABUS opened at $3.49 on Friday. The business’s 50-day moving average price is $3.34 and its 200 day moving average price is $3.55. Arbutus Biopharma has a 52-week low of $2.30 and a 52-week high of $4.73. The firm has a market cap of $661.33 million, a P/E ratio of -8.12 and a beta of 1.93.

Arbutus Biopharma (NASDAQ:ABUS) last posted its quarterly earnings data on Thursday, March 27th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. The company had revenue of $1.57 million during the quarter, compared to analyst estimates of $2.20 million. Arbutus Biopharma had a negative net margin of 1,137.65% and a negative return on equity of 68.18%. Sell-side analysts expect that Arbutus Biopharma will post -0.39 EPS for the current year.

Hedge Funds Weigh In On Arbutus Biopharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. boosted its position in Arbutus Biopharma by 5.7% during the 4th quarter. Invesco Ltd. now owns 69,831 shares of the biopharmaceutical company’s stock worth $228,000 after acquiring an additional 3,780 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in shares of Arbutus Biopharma by 10.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 40,179 shares of the biopharmaceutical company’s stock worth $131,000 after purchasing an additional 3,870 shares in the last quarter. Clear Harbor Asset Management LLC boosted its holdings in shares of Arbutus Biopharma by 6.7% during the fourth quarter. Clear Harbor Asset Management LLC now owns 79,761 shares of the biopharmaceutical company’s stock worth $261,000 after purchasing an additional 5,000 shares during the period. Teacher Retirement System of Texas grew its position in Arbutus Biopharma by 18.7% during the fourth quarter. Teacher Retirement System of Texas now owns 42,144 shares of the biopharmaceutical company’s stock valued at $138,000 after purchasing an additional 6,644 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Arbutus Biopharma by 10.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,397 shares of the biopharmaceutical company’s stock valued at $292,000 after buying an additional 8,308 shares during the period. 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.