Arbutus Biopharma (NASDAQ:ABUS) Upgraded at StockNews.com

StockNews.com upgraded shares of Arbutus Biopharma (NASDAQ:ABUS) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

A number of other brokerages also recently weighed in on ABUS. HC Wainwright restated a “buy” rating and set a $5.00 target price on shares of Arbutus Biopharma in a report on Tuesday, January 21st. JMP Securities boosted their price objective on shares of Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $5.00 target price (up from $4.50) on shares of Arbutus Biopharma in a report on Wednesday, November 20th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arbutus Biopharma currently has an average rating of “Moderate Buy” and an average target price of $5.50.

Arbutus Biopharma Stock Down 1.8 %

NASDAQ:ABUS opened at $3.31 on Wednesday. Arbutus Biopharma has a twelve month low of $2.30 and a twelve month high of $4.73. The firm has a market capitalization of $627.22 million, a price-to-earnings ratio of -7.70 and a beta of 1.93. The stock’s 50 day moving average price is $3.34 and its two-hundred day moving average price is $3.64.

Hedge Funds Weigh In On Arbutus Biopharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Two Seas Capital LP lifted its stake in shares of Arbutus Biopharma by 4.2% during the 4th quarter. Two Seas Capital LP now owns 8,740,956 shares of the biopharmaceutical company’s stock worth $28,583,000 after buying an additional 353,568 shares during the last quarter. Whitefort Capital Management LP raised its holdings in Arbutus Biopharma by 2.9% in the 4th quarter. Whitefort Capital Management LP now owns 13,241,916 shares of the biopharmaceutical company’s stock valued at $43,301,000 after acquiring an additional 373,949 shares during the period. Woodline Partners LP lifted its position in Arbutus Biopharma by 45.4% during the fourth quarter. Woodline Partners LP now owns 971,628 shares of the biopharmaceutical company’s stock worth $3,177,000 after acquiring an additional 303,475 shares during the last quarter. Saba Capital Management L.P. lifted its position in Arbutus Biopharma by 31.3% during the fourth quarter. Saba Capital Management L.P. now owns 887,993 shares of the biopharmaceutical company’s stock worth $2,904,000 after acquiring an additional 211,566 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its holdings in shares of Arbutus Biopharma by 27.6% during the fourth quarter. Rafferty Asset Management LLC now owns 146,803 shares of the biopharmaceutical company’s stock worth $480,000 after acquiring an additional 31,782 shares during the period. 43.79% of the stock is owned by institutional investors.

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.