Arbutus Biopharma Corp. (ABUS) Upgraded by Chardan Capital to Neutral
Chardan Capital upgraded shares of Arbutus Biopharma Corp. (NASDAQ:ABUS) from a sell rating to a neutral rating in a research note published on Friday morning. They currently have $3.00 price objective on the biopharmaceutical company’s stock. The analysts noted that the move was a valuation call.
Several other analysts have also commented on ABUS. Leerink Swann reaffirmed a buy rating on shares of Arbutus Biopharma Corp. in a report on Wednesday, July 20th. Wedbush reiterated an outperform rating and set a $20.00 price target on shares of Arbutus Biopharma Corp. in a research report on Wednesday, July 20th. Zacks Investment Research downgraded Arbutus Biopharma Corp. from a hold rating to a sell rating in a research report on Tuesday, August 9th. Finally, William Blair initiated coverage on Arbutus Biopharma Corp. in a research report on Friday, August 19th. They set a buy rating and a $7.00 price target on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Buy and an average price target of $7.33.
Arbutus Biopharma Corp. (NASDAQ:ABUS) traded up 3.14% during mid-day trading on Friday, reaching $2.96. The company’s stock had a trading volume of 75,342 shares. The firm’s 50 day moving average is $3.64 and its 200-day moving average is $4.01. Arbutus Biopharma Corp. has a 12-month low of $2.72 and a 12-month high of $6.74. The company’s market cap is $162.20 million.
Arbutus Biopharma Corp. (NASDAQ:ABUS) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.39) by $0.36. Arbutus Biopharma Corp. had a negative return on equity of 8.87% and a negative net margin of 1,017.01%. Equities analysts anticipate that Arbutus Biopharma Corp. will post ($3.35) earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Bank of Montreal Can bought a new stake in Arbutus Biopharma Corp. during the second quarter valued at approximately $2,822,000. AXA boosted its stake in Arbutus Biopharma Corp. by 1.4% in the second quarter. AXA now owns 792,358 shares of the biopharmaceutical company’s stock valued at $2,757,000 after buying an additional 11,062 shares in the last quarter. Suffolk Capital Management LLC boosted its stake in Arbutus Biopharma Corp. by 7.6% in the second quarter. Suffolk Capital Management LLC now owns 441,915 shares of the biopharmaceutical company’s stock valued at $1,538,000 after buying an additional 31,023 shares in the last quarter. I.G. Investment Management LTD. bought a new stake in Arbutus Biopharma Corp. during the second quarter valued at approximately $870,000. Finally, K2 Principal Fund L.P. boosted its stake in Arbutus Biopharma Corp. by 113.6% in the second quarter. K2 Principal Fund L.P. now owns 63,550 shares of the biopharmaceutical company’s stock valued at $221,000 after buying an additional 33,796 shares in the last quarter. 31.90% of the stock is owned by hedge funds and other institutional investors.
About Arbutus Biopharma Corp.
Arbutus Biopharma Corporation, formerly Tekmira Pharmaceuticals Corporation, is a therapeutic solutions company. The Company is engaged in discovering, developing and commercializing a cure for patients suffering from chronic hepatitis B infection (HBV), a disease of the liver caused by the hepatitis B virus (HBV).
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