StockNews.com upgraded shares of Arbutus Biopharma (NASDAQ:ABUS - Free Report) from a sell rating to a hold rating in a report published on Saturday morning.
Several other brokerages have also issued reports on ABUS. HC Wainwright reaffirmed a "buy" rating and issued a $5.00 target price on shares of Arbutus Biopharma in a research note on Tuesday, January 21st. Chardan Capital reaffirmed a "buy" rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a research note on Friday, March 28th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $5.50.
Read Our Latest Analysis on Arbutus Biopharma
Arbutus Biopharma Stock Performance
ABUS traded up $0.03 on Friday, reaching $3.51. The company had a trading volume of 1,315,312 shares, compared to its average volume of 1,071,103. Arbutus Biopharma has a 52-week low of $2.30 and a 52-week high of $4.73. The company has a market cap of $665.12 million, a price-to-earnings ratio of -8.16 and a beta of 1.93. The business has a 50 day simple moving average of $3.35 and a 200 day simple moving average of $3.54.
Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The biopharmaceutical company reported ($0.07) EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.01. Arbutus Biopharma had a negative net margin of 1,137.65% and a negative return on equity of 68.18%. The firm had revenue of $1.57 million for the quarter, compared to analyst estimates of $2.20 million. As a group, equities research analysts predict that Arbutus Biopharma will post -0.39 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABUS. Invesco Ltd. grew its holdings in shares of Arbutus Biopharma by 5.7% during the fourth quarter. Invesco Ltd. now owns 69,831 shares of the biopharmaceutical company's stock valued at $228,000 after buying an additional 3,780 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Arbutus Biopharma by 10.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 40,179 shares of the biopharmaceutical company's stock valued at $131,000 after acquiring an additional 3,870 shares in the last quarter. Clear Harbor Asset Management LLC boosted its stake in Arbutus Biopharma by 6.7% during the 4th quarter. Clear Harbor Asset Management LLC now owns 79,761 shares of the biopharmaceutical company's stock valued at $261,000 after purchasing an additional 5,000 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Arbutus Biopharma by 18.7% in the 4th quarter. Teacher Retirement System of Texas now owns 42,144 shares of the biopharmaceutical company's stock worth $138,000 after purchasing an additional 6,644 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Arbutus Biopharma by 10.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,397 shares of the biopharmaceutical company's stock worth $292,000 after purchasing an additional 8,308 shares during the last quarter. Institutional investors own 43.79% of the company's stock.
Arbutus Biopharma Company Profile
(
Get Free Report)
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.
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