Arbutus Biopharma (NASDAQ:ABUS) Stock Rating Upgraded by StockNews.com

Arbutus Biopharma (NASDAQ:ABUS) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Saturday.

ABUS has been the subject of several other reports. HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of Arbutus Biopharma in a research report on Tuesday, January 21st. Chardan Capital reaffirmed a “buy” rating and set a $5.00 target price on shares of Arbutus Biopharma in a report on Friday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

Arbutus Biopharma Stock Up 7.0 %

ABUS stock opened at $3.50 on Friday. The stock has a market capitalization of $663.22 million, a PE ratio of -8.14 and a beta of 1.93. Arbutus Biopharma has a 52 week low of $2.30 and a 52 week high of $4.73. The firm has a 50 day moving average of $3.34 and a 200 day moving average of $3.55.

Arbutus Biopharma (NASDAQ:ABUS) last announced its quarterly earnings data on Thursday, March 27th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. Arbutus Biopharma had a negative return on equity of 68.18% and a negative net margin of 1,137.65%. The business had revenue of $1.57 million for the quarter, compared to analyst estimates of $2.20 million. On average, equities research analysts expect that Arbutus Biopharma will post -0.39 earnings per share for the current year.

Institutional Trading of Arbutus Biopharma

A number of hedge funds and other institutional investors have recently modified their holdings of ABUS. Intech Investment Management LLC purchased a new position in Arbutus Biopharma during the 3rd quarter valued at about $142,000. Charles Schwab Investment Management Inc. lifted its position in shares of Arbutus Biopharma by 218.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,212,246 shares of the biopharmaceutical company’s stock worth $4,667,000 after purchasing an additional 831,663 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Arbutus Biopharma by 453.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,503 shares of the biopharmaceutical company’s stock worth $144,000 after purchasing an additional 30,723 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Arbutus Biopharma in the third quarter valued at approximately $754,000. Finally, Rockefeller Capital Management L.P. acquired a new position in shares of Arbutus Biopharma in the third quarter valued at approximately $243,000. 43.79% of the stock is 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.