Arbutus Biopharma’s (ABUS) Buy Rating Reiterated at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Arbutus Biopharma (NASDAQ:ABUS) in a research note published on Friday morning, Benzinga reports. Chardan Capital currently has a $4.00 price objective on the biopharmaceutical company’s stock.

ABUS has been the subject of several other reports. HC Wainwright reduced their target price on Arbutus Biopharma from $6.00 to $5.00 and set a buy rating for the company in a research note on Friday, March 1st. JMP Securities restated a market outperform rating and set a $4.00 price objective on shares of Arbutus Biopharma in a research report on Thursday, April 4th.

Arbutus Biopharma Price Performance

ABUS opened at $2.71 on Friday. The stock has a market cap of $486.42 million, a P/E ratio of -6.16 and a beta of 2.05. The firm has a fifty day moving average price of $2.74 and a 200 day moving average price of $2.41. Arbutus Biopharma has a 1 year low of $1.69 and a 1 year high of $3.29.

Arbutus Biopharma (NASDAQ:ABUS) last issued its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.12). Arbutus Biopharma had a negative net margin of 572.81% and a negative return on equity of 61.98%. The business had revenue of $2.15 million during the quarter, compared to the consensus estimate of $4.74 million. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. Equities analysts expect that Arbutus Biopharma will post -0.39 EPS for the current year.

Hedge Funds Weigh In On Arbutus Biopharma

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hudson Bay Capital Management LP increased its position in shares of Arbutus Biopharma by 45.8% during the third quarter. Hudson Bay Capital Management LP now owns 4,149,904 shares of the biopharmaceutical company’s stock worth $8,424,000 after purchasing an additional 1,302,978 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Arbutus Biopharma by 19.7% during the first quarter. BNP Paribas Financial Markets now owns 349,435 shares of the biopharmaceutical company’s stock worth $902,000 after buying an additional 57,390 shares in the last quarter. Clear Harbor Asset Management LLC raised its position in shares of Arbutus Biopharma by 5.7% in the fourth quarter. Clear Harbor Asset Management LLC now owns 139,261 shares of the biopharmaceutical company’s stock valued at $348,000 after buying an additional 7,500 shares during the last quarter. Barclays PLC raised its position in shares of Arbutus Biopharma by 175.3% in the third quarter. Barclays PLC now owns 131,845 shares of the biopharmaceutical company’s stock valued at $268,000 after buying an additional 83,950 shares during the last quarter. Finally, Cowen AND Company LLC purchased a new position in shares of Arbutus Biopharma in the fourth quarter worth about $125,000. Hedge funds and other 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.