Arbutus Biopharma (NASDAQ:ABUS) Given New $4.50 Price Target at Chardan Capital

Arbutus Biopharma (NASDAQ:ABUS) had its price target boosted by Chardan Capital from $4.00 to $4.50 in a report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

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

Arbutus Biopharma Price Performance

NASDAQ:ABUS opened at $3.92 on Wednesday. Arbutus Biopharma has a one year low of $1.70 and a one year high of $4.72. The company has a fifty day moving average price of $4.04 and a 200 day moving average price of $3.57. The stock has a market cap of $740.02 million, a P/E ratio of -8.71 and a beta of 1.92.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new stake in shares of Arbutus Biopharma during the 2nd quarter worth about $34,000. Walleye Trading LLC acquired a new stake in shares of Arbutus Biopharma during the first quarter worth approximately $36,000. Helen Stephens Group LLC bought a new position in shares of Arbutus Biopharma in the third quarter valued at approximately $50,000. XTX Topco Ltd acquired a new position in shares of Arbutus Biopharma in the 2nd quarter worth approximately $53,000. Finally, Price T Rowe Associates Inc. MD grew its position in 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 acquiring an additional 6,649 shares during the last quarter. 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.