Arbutus Biopharma (NASDAQ:ABUS – Get Free Report) had its price objective raised by research analysts at JMP Securities from $4.00 to $5.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “market outperform” rating on the biopharmaceutical company’s stock. JMP Securities’ price objective would suggest a potential upside of 34.77% from the stock’s previous close.
Other equities research analysts have also issued reports about the stock. HC Wainwright restated a “buy” rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a report on Thursday, June 6th. Chardan Capital reaffirmed a “buy” rating and set a $4.00 price objective on shares of Arbutus Biopharma in a research report on Wednesday, June 5th.
View Our Latest Stock Report on ABUS
Arbutus Biopharma Price Performance
Arbutus Biopharma (NASDAQ:ABUS – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Arbutus Biopharma had a negative net margin of 572.81% and a negative return on equity of 62.68%. The company had revenue of $1.73 million during the quarter, compared to the consensus estimate of $1.54 million. During the same quarter last year, the firm posted ($0.10) EPS. Equities analysts expect that Arbutus Biopharma will post -0.39 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in ABUS. nVerses Capital LLC purchased a new position in Arbutus Biopharma in the 2nd quarter valued at $34,000. Walleye Trading LLC purchased a new stake in Arbutus Biopharma during the first quarter worth approximately $36,000. PFG Investments LLC acquired a new position in shares of Arbutus Biopharma in the 1st quarter valued at $50,000. China Universal Asset Management Co. Ltd. grew its holdings 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 worth $49,000 after purchasing an additional 15,104 shares during the last quarter. Finally, Premier Path Wealth Partners LLC increased its position in Arbutus Biopharma by 37.4% during the first quarter. Premier Path Wealth Partners LLC now owns 30,500 shares of the biopharmaceutical company’s stock worth $79,000 after buying an additional 8,300 shares during the period. 43.79% of the stock is currently owned by hedge funds and other institutional investors.
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.
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