Arbutus Biopharma (NASDAQ:ABUS) Earns “Buy” Rating from Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Arbutus Biopharma (NASDAQ:ABUS) in a research note published 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 company. JMP Securities reaffirmed a market outperform rating and issued a $4.00 price target on shares of Arbutus Biopharma in a research report on Thursday, April 4th. HC Wainwright dropped their price target on shares of Arbutus Biopharma from $6.00 to $5.00 and set a buy rating on the stock in a research report on Friday, March 1st.

Arbutus Biopharma Price Performance

ABUS opened at $2.80 on Friday. The company has a market capitalization of $528.42 million, a PE ratio of -6.36 and a beta of 2.05. Arbutus Biopharma has a fifty-two week low of $1.69 and a fifty-two week high of $3.29. The business has a 50-day moving average of $2.74 and a 200-day moving average of $2.41.

Arbutus Biopharma (NASDAQ:ABUS) last posted its earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). Arbutus Biopharma had a negative net margin of 572.81% and a negative return on equity of 62.68%. The firm had revenue of $2.15 million during the quarter, compared to analysts’ expectations of $4.74 million. During the same period in the previous year, the company earned ($0.14) earnings per share. On average, equities research analysts expect that Arbutus Biopharma will post -0.39 earnings per share for the current fiscal year.

Institutional Trading of Arbutus Biopharma

Several hedge funds have recently added to or reduced their stakes in ABUS. Kades & Cheifetz LLC acquired a new position in shares of Arbutus Biopharma during the third quarter worth approximately $41,000. China Universal Asset Management Co. Ltd. raised its position in shares of Arbutus Biopharma by 351.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 19,400 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 15,104 shares during the last quarter. PFG Investments LLC bought a new stake in shares of Arbutus Biopharma in the first quarter valued at about $50,000. Premier Path Wealth Partners LLC acquired a new stake in Arbutus Biopharma during the fourth quarter worth about $56,000. Finally, SG Americas Securities LLC bought a new position in Arbutus Biopharma during the third quarter valued at about $81,000. Institutional investors own 43.79% of the company’s stock.

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.