Chardan Capital Raises Arbutus Biopharma (NASDAQ:ABUS) Price Target to $4.50

Arbutus Biopharma (NASDAQ:ABUS) had its price target increased by equities researchers at Chardan Capital from $4.00 to $4.50 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Chardan Capital’s target price would indicate a potential upside of 14.80% from the stock’s previous close.

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

Arbutus Biopharma Stock Down 1.0 %

NASDAQ:ABUS traded down $0.04 during trading hours on Wednesday, hitting $3.92. 1,518,523 shares of the stock were exchanged, compared to its average volume of 1,114,131. The company’s 50 day moving average is $4.04 and its two-hundred day moving average is $3.57. The company has a market capitalization of $740.02 million, a P/E ratio of -8.71 and a beta of 1.92. Arbutus Biopharma has a twelve month low of $1.70 and a twelve month high of $4.72.

Institutional Investors Weigh In On Arbutus Biopharma

Several hedge funds have recently bought and sold shares of ABUS. nVerses Capital LLC acquired a new stake in Arbutus Biopharma during the second quarter worth approximately $34,000. Helen Stephens Group LLC acquired a new stake in Arbutus Biopharma during the third quarter worth approximately $50,000. Walleye Trading LLC acquired a new stake in Arbutus Biopharma during the first quarter worth approximately $36,000. XTX Topco Ltd acquired a new stake in Arbutus Biopharma during the second quarter worth approximately $53,000. Finally, Premier Path Wealth Partners LLC lifted its position in Arbutus Biopharma by 18.0% during the second quarter. Premier Path Wealth Partners LLC now owns 36,000 shares of the biopharmaceutical company’s stock worth $111,000 after acquiring an additional 5,500 shares during the last quarter. 43.79% of the stock is currently owned by institutional investors and hedge funds.

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.