Arbutus Biopharma (NASDAQ:ABUS) Given Buy Rating at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Arbutus Biopharma (NASDAQ:ABUS) in a research note issued to investors on Friday, Benzinga reports. Chardan Capital currently has a $4.00 price objective on the biopharmaceutical company’s stock.

Other analysts have also recently issued research reports about the stock. HC Wainwright cut their price target on shares of Arbutus Biopharma from $6.00 to $5.00 and set a buy rating for the company in a research note on Friday, March 1st. JMP Securities reiterated a market outperform rating and issued a $4.00 price target on shares of Arbutus Biopharma in a research note on Thursday, April 4th.

Arbutus Biopharma Stock Performance

Arbutus Biopharma stock traded up $0.03 during mid-day trading on Friday, reaching $2.71. The company’s stock had a trading volume of 683,613 shares, compared to its average volume of 1,196,178. The company has a market capitalization of $486.42 million, a price-to-earnings ratio of -6.16 and a beta of 2.05. Arbutus Biopharma has a 12 month low of $1.69 and a 12 month high of $3.29. The business’s 50 day simple moving average is $2.74 and its 200 day simple moving average is $2.40.

Arbutus Biopharma (NASDAQ:ABUS) last released its earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.12). The business had revenue of $2.15 million during the quarter, compared to the consensus estimate of $4.74 million. Arbutus Biopharma had a negative net margin of 572.81% and a negative return on equity of 61.98%. During the same quarter last year, the firm earned ($0.14) earnings per share. As a group, sell-side analysts expect that Arbutus Biopharma will post -0.39 EPS for the current year.

Institutional Trading of Arbutus Biopharma

Hedge funds have recently modified their holdings of the stock. PFG Investments LLC acquired a new stake in shares of Arbutus Biopharma during the 1st quarter worth about $50,000. China Universal Asset Management Co. Ltd. raised its stake in Arbutus Biopharma by 351.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 19,400 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 15,104 shares in the last quarter. Kades & Cheifetz LLC acquired a new stake in Arbutus Biopharma in the 3rd quarter worth about $41,000. Premier Path Wealth Partners LLC acquired a new stake in Arbutus Biopharma in the 4th quarter worth about $56,000. Finally, SG Americas Securities LLC acquired a new stake in Arbutus Biopharma in the 3rd quarter worth about $81,000. Institutional investors and hedge funds 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.