Arbutus Biopharma's (ABUS) Buy Rating Reaffirmed at Chardan Capital

Chardan Capital reissued their buy rating on shares of Arbutus Biopharma (NASDAQ:ABUS - Free Report) in a research note published on Wednesday, Marketbeat.com reports. The brokerage currently has a $5.00 target price on the biopharmaceutical company's stock, up from their previous target price of $4.50.

A number of other research analysts also recently commented on the stock. JMP Securities upped their price objective on shares of Arbutus Biopharma to $5.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Jefferies Financial Group lifted their target price on Arbutus Biopharma from $5.00 to $7.00 and gave the stock a "buy" rating in a report on Thursday, September 5th. HC Wainwright restated a "buy" rating and set a $5.00 price objective on shares of Arbutus Biopharma in a research report on Monday. Finally, StockNews.com upgraded Arbutus Biopharma from a "sell" rating to a "hold" rating in a 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.50.

Arbutus Biopharma Trading Down 1.1 %

NASDAQ:ABUS traded down $0.04 during mid-day trading on Wednesday, hitting $3.45. The stock had a trading volume of 498,016 shares, compared to its average volume of 1,107,557. The company has a market capitalization of $653.74 million, a PE ratio of -8.12 and a beta of 1.92. Arbutus Biopharma has a twelve month low of $1.79 and a twelve month high of $4.72. The stock has a 50-day simple moving average of $3.94 and a two-hundred day simple moving average of $3.64.

Hedge Funds Weigh In On Arbutus Biopharma

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Rubric Capital Management LP acquired a new position in Arbutus Biopharma during the second quarter valued at approximately $5,195,000. Kennedy Capital Management LLC raised its stake in shares of Arbutus Biopharma by 12.7% in the first quarter. Kennedy Capital Management LLC now owns 436,506 shares of the biopharmaceutical company's stock worth $1,126,000 after purchasing an additional 49,265 shares during the last quarter. Walleye Trading LLC bought a new position in shares of Arbutus Biopharma in the first quarter valued at approximately $36,000. Creative Planning grew its holdings in Arbutus Biopharma by 13.8% during the third quarter. Creative Planning now owns 49,500 shares of the biopharmaceutical company's stock valued at $191,000 after purchasing an additional 5,989 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Arbutus Biopharma by 22.4% in the first 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 in the last quarter. 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.