Trading Report: The Arbutus Biopharma Corp. (ABUS) Upgraded by Chardan Capital to Neutral

The 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 report issued on Friday morning. Chardan Capital currently has $3.00 target price on the biopharmaceutical company’s stock. The analysts noted that the move was a valuation call.

Several other equities analysts have also recently issued reports on ABUS. Leerink Swann cut Arbutus Biopharma Corp. from an outperform rating to a market perform rating in a research report on Wednesday, August 17th. Zacks Investment Research raised Arbutus Biopharma Corp. from a sell rating to a hold rating in a research note on Wednesday, August 24th. William Blair began coverage on Arbutus Biopharma Corp. in a research note on Friday, August 19th. They set a buy rating and a $7.00 price target on the stock. Finally, Wedbush reissued an outperform rating and set a $13.00 price target on shares of Arbutus Biopharma Corp. in a research note on Friday, September 23rd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Arbutus Biopharma Corp. presently has an average rating of Buy and a consensus price target of $7.33.

Arbutus Biopharma Corp. (NASDAQ:ABUS) traded up 3.14% during midday trading on Friday, hitting $2.96. The company had a trading volume of 75,342 shares. Arbutus Biopharma Corp. has a 52-week low of $2.72 and a 52-week high of $6.74. The stock’s market cap is $162.20 million. The stock’s 50-day moving average price is $3.64 and its 200-day moving average price is $4.01.

Arbutus Biopharma Corp. (NASDAQ:ABUS) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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%. On average, equities research analysts expect that Arbutus Biopharma Corp. will post ($3.35) EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. K2 Principal Fund L.P. raised 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 worth $221,000 after buying an additional 33,796 shares during the last quarter. I.G. Investment Management LTD. bought a new stake in Arbutus Biopharma Corp. during the second quarter worth about $870,000. Suffolk Capital Management LLC raised 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 worth $1,538,000 after buying an additional 31,023 shares during the last quarter. AXA raised 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 worth $2,757,000 after buying an additional 11,062 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in Arbutus Biopharma Corp. during the second quarter worth about $2,822,000. 31.90% of the stock is currently owned by hedge funds and other institutional investors.

Arbutus Biopharma Corp. Company Profile

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