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

Arbutus Biopharma (NASDAQ:ABUS) had its price target increased by Chardan Capital from $4.00 to $4.50 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently commented on the company. Jefferies Financial Group lifted their target price on Arbutus Biopharma from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. JMP Securities lifted their price objective on Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, StockNews.com upgraded shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Arbutus Biopharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.38.

Arbutus Biopharma Price Performance

ABUS opened at $3.92 on Wednesday. The company’s 50 day simple moving average is $4.04 and its 200-day simple moving average is $3.57. Arbutus Biopharma has a one year low of $1.70 and a one year high of $4.72. The stock has a market capitalization of $740.02 million, a P/E ratio of -8.71 and a beta of 1.92.

Institutional Investors Weigh In On Arbutus Biopharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its position in shares of Arbutus Biopharma by 19.7% during the 1st 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 during the period. Susquehanna Fundamental Investments LLC acquired a new position in Arbutus Biopharma during the first quarter valued at approximately $266,000. Verus Capital Partners LLC increased its stake in Arbutus Biopharma by 30.5% in the first quarter. Verus Capital Partners LLC now owns 41,935 shares of the biopharmaceutical company’s stock valued at $108,000 after purchasing an additional 9,800 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Arbutus Biopharma by 22.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,388 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 6,649 shares during the period. Finally, Kennedy Capital Management LLC grew its holdings in shares of Arbutus Biopharma by 12.7% in the 1st quarter. Kennedy Capital Management LLC now owns 436,506 shares of the biopharmaceutical company’s stock valued at $1,126,000 after buying an additional 49,265 shares during the period. Institutional investors own 43.79% of the company’s stock.

Arbutus Biopharma Company Profile

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.