Arbutus Biopharma (NASDAQ:ABUS) Stock Rating Reaffirmed by B. Riley

B. Riley reiterated their buy rating on shares of Arbutus Biopharma (NASDAQ:ABUS) in a research note published on Monday morning, TipRanks reports. They currently have a $6.00 target price on the biopharmaceutical company’s stock.

ABUS has been the topic of several other research reports. ValuEngine downgraded Arbutus Biopharma from a buy rating to a hold rating in a research note on Thursday, February 6th. Zacks Investment Research raised Arbutus Biopharma from a sell rating to a hold rating in a research note on Monday, January 13th. Finally, JMP Securities raised Arbutus Biopharma from a market perform rating to an outperform rating and set a $10.00 target price on the stock in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Arbutus Biopharma has a consensus rating of Hold and a consensus price target of $5.69.

Shares of ABUS opened at $3.28 on Monday. The business’s 50 day moving average is $2.96 and its 200 day moving average is $1.91. The company has a market capitalization of $203.73 million, a PE ratio of -1.17 and a beta of 2.45. Arbutus Biopharma has a 12-month low of $0.82 and a 12-month high of $4.75. The company has a current ratio of 10.70, a quick ratio of 10.70 and a debt-to-equity ratio of 0.10.

A number of institutional investors and hedge funds have recently modified their holdings of ABUS. Morgan Stanley boosted its position in shares of Arbutus Biopharma by 66.7% during the second quarter. Morgan Stanley now owns 1,609,886 shares of the biopharmaceutical company’s stock valued at $3,349,000 after buying an additional 643,955 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Arbutus Biopharma by 710.8% in the third quarter. Tower Research Capital LLC TRC now owns 38,789 shares of the biopharmaceutical company’s stock worth $59,000 after purchasing an additional 34,005 shares during the last quarter. Millennium Management LLC boosted its position in Arbutus Biopharma by 75.1% in the third quarter. Millennium Management LLC now owns 356,066 shares of the biopharmaceutical company’s stock worth $543,000 after purchasing an additional 152,714 shares during the last quarter. Simplex Trading LLC boosted its position in Arbutus Biopharma by 10,628.7% in the fourth quarter. Simplex Trading LLC now owns 43,344 shares of the biopharmaceutical company’s stock worth $120,000 after purchasing an additional 42,940 shares during the last quarter. Finally, Secure Asset Management LLC purchased a new position in Arbutus Biopharma in the fourth quarter worth about $28,000. 30.69% of the stock is currently owned by institutional investors.

Arbutus Biopharma Company Profile

Arbutus Biopharma Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of a cure for patients suffering from chronic Hepatitis B virus (HBV) infection in Canada and the United States. Its HBV product pipeline consists of AB-506, a capsid inhibitor that has shown improved potency and pharmacokinetics over its first generation capsid inhibitor; and AB-423, which is in pre-clinical studies.

Read More: Dividend Reinvestment Plan (DRIP)

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