Arbutus Biopharma (NASDAQ:ABUS) Raised to Hold at StockNews.com

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

Other research analysts have also recently issued research reports about the stock. Chardan Capital restated a “buy” rating and set a $5.00 target price on shares of Arbutus Biopharma in a research note on Friday. HC Wainwright restated a “buy” rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $5.50.

Arbutus Biopharma Stock Performance

Arbutus Biopharma stock opened at $3.50 on Friday. Arbutus Biopharma has a one year low of $2.30 and a one year high of $4.73. The stock has a fifty day moving average of $3.34 and a 200 day moving average of $3.55. The stock has a market cap of $663.22 million, a PE ratio of -8.14 and a beta of 1.93.

Arbutus Biopharma (NASDAQ:ABUS) last issued its quarterly earnings results on Thursday, March 27th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.57 million for the quarter, compared to analysts’ expectations of $2.20 million. As a group, sell-side analysts predict that Arbutus Biopharma will post -0.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ABUS. E Fund Management Co. Ltd. bought a new stake in shares of Arbutus Biopharma in the fourth quarter valued at about $34,000. Xponance Inc. purchased a new position in Arbutus Biopharma during the 4th quarter valued at about $34,000. Raymond James Financial Inc. bought a new stake in shares of Arbutus Biopharma in the 4th quarter valued at about $34,000. Cibc World Markets Corp purchased a new stake in shares of Arbutus Biopharma in the 4th quarter worth approximately $45,000. Finally, Hsbc Holdings PLC bought a new position in shares of Arbutus Biopharma during the fourth quarter valued at approximately $55,000. Institutional investors 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.