JMP Securities Increases Arbutus Biopharma (NASDAQ:ABUS) Price Target to $5.00

Arbutus Biopharma (NASDAQ:ABUS) had its price target raised by JMP Securities to $5.00 in a research report report published on Wednesday, Stock Target Advisor reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently issued reports on the company. Jefferies Financial Group raised 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. StockNews.com raised shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arbutus Biopharma presently has a consensus rating of “Moderate Buy” and an average target price of $5.38.

Arbutus Biopharma Stock Down 1.0 %

Shares of NASDAQ ABUS opened at $3.92 on Wednesday. The stock has a market capitalization of $740.02 million, a P/E ratio of -8.71 and a beta of 1.92. The firm’s 50-day moving average price is $4.04 and its two-hundred day moving average price is $3.57. Arbutus Biopharma has a 52-week low of $1.70 and a 52-week high of $4.72.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Rubric Capital Management LP acquired a new stake in Arbutus Biopharma in the second quarter worth about $5,195,000. Bank of New York Mellon Corp boosted its holdings in shares of Arbutus Biopharma by 21.1% in the second quarter. Bank of New York Mellon Corp now owns 493,729 shares of the biopharmaceutical company’s stock valued at $1,526,000 after acquiring an additional 86,104 shares in the last quarter. Kennedy Capital Management LLC increased its stake in shares of Arbutus Biopharma by 12.7% during the first quarter. Kennedy Capital Management LLC now owns 436,506 shares of the biopharmaceutical company’s stock valued at $1,126,000 after acquiring an additional 49,265 shares during the period. Bank of Montreal Can raised its holdings in Arbutus Biopharma by 6.1% during the second quarter. Bank of Montreal Can now owns 354,813 shares of the biopharmaceutical company’s stock worth $1,100,000 after purchasing an additional 20,548 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Arbutus Biopharma by 19.7% during the first quarter. BNP Paribas Financial Markets now owns 349,435 shares of the biopharmaceutical company’s stock worth $902,000 after purchasing an additional 57,390 shares in the last quarter. 43.79% of the stock is owned by institutional investors and hedge funds.

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.