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

Arbutus Biopharma (NASDAQ:ABUS) had its price target increased by Chardan Capital from $4.00 to $4.50 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Chardan Capital’s price target points to a potential upside of 14.80% from the stock’s previous close.

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

Arbutus Biopharma Price Performance

NASDAQ:ABUS traded down $0.04 during mid-day trading on Wednesday, reaching $3.92. The stock had a trading volume of 1,518,523 shares, compared to its average volume of 1,114,131. The stock has a 50-day simple moving average of $4.04 and a two-hundred day simple moving average of $3.57. The stock has a market capitalization of $740.02 million, a PE ratio of -8.71 and a beta of 1.92. Arbutus Biopharma has a 12 month low of $1.70 and a 12 month high of $4.72.

Institutional Trading of Arbutus Biopharma

A number of hedge funds and other institutional investors have recently modified their holdings of ABUS. China Universal Asset Management Co. Ltd. grew its stake in shares of Arbutus Biopharma by 63.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 36,309 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 14,138 shares during the last quarter. Creative Planning grew its stake in shares of Arbutus Biopharma by 13.8% in the third quarter. Creative Planning now owns 49,500 shares of the biopharmaceutical company’s stock worth $191,000 after purchasing an additional 5,989 shares during the last quarter. Helen Stephens Group LLC bought a new stake in shares of Arbutus Biopharma in the third quarter worth $50,000. SG Americas Securities LLC bought a new stake in shares of Arbutus Biopharma in the third quarter worth $204,000. Finally, Susquehanna Fundamental Investments LLC grew its stake in shares of Arbutus Biopharma by 102.2% in the second quarter. Susquehanna Fundamental Investments LLC now owns 208,152 shares of the biopharmaceutical company’s stock worth $643,000 after purchasing an additional 105,228 shares during the last quarter. 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.