Arbutus Biopharma (NASDAQ:ABUS) Lifted to Sell at BidaskClub

BidaskClub upgraded shares of Arbutus Biopharma (NASDAQ:ABUS) from a strong sell rating to a sell rating in a research note published on Friday, BidAskClub reports.

Other analysts have also issued research reports about the company. Robert W. Baird lowered Arbutus Biopharma from an outperform rating to a neutral rating in a report on Friday, July 24th. ValuEngine lowered Arbutus Biopharma from a buy rating to a hold rating in a report on Monday, July 20th. Zacks Investment Research downgraded Arbutus Biopharma from a buy rating to a hold rating in a research report on Tuesday, August 11th. Chardan Capital reaffirmed a buy rating and issued a $5.00 price target on shares of Arbutus Biopharma in a research report on Friday, August 28th. Finally, B. Riley raised their price target on Arbutus Biopharma from $6.00 to $8.00 in a research report on Monday, July 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $5.63.

ABUS opened at $3.14 on Friday. The firm has a market cap of $260.34 million, a PE ratio of -1.28 and a beta of 2.90. The business has a fifty day simple moving average of $3.17 and a 200-day simple moving average of $2.25. Arbutus Biopharma has a fifty-two week low of $0.82 and a fifty-two week high of $9.02.

Arbutus Biopharma (NASDAQ:ABUS) last released its quarterly earnings data on Friday, August 7th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The firm had revenue of $1.51 million during the quarter, compared to analyst estimates of $1.85 million. On average, equities research analysts expect that Arbutus Biopharma will post -0.9 EPS for the current fiscal year.

In other Arbutus Biopharma news, insider Michael J. Mcelhaugh sold 20,000 shares of Arbutus Biopharma stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $5.01, for a total transaction of $100,200.00. Following the completion of the sale, the insider now owns 1,367,457 shares of the company’s stock, valued at approximately $6,850,959.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.60% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABUS. Cowen AND Company LLC boosted its position in shares of Arbutus Biopharma by 367.6% during the 1st quarter. Cowen AND Company LLC now owns 4,331,020 shares of the biopharmaceutical company’s stock worth $4,374,000 after acquiring an additional 3,404,820 shares in the last quarter. Morgan Stanley lifted its stake in Arbutus Biopharma by 9.4% in the 1st quarter. Morgan Stanley now owns 2,047,008 shares of the biopharmaceutical company’s stock valued at $2,067,000 after purchasing an additional 175,920 shares during the last quarter. Advisor Group Holdings Inc. bought a new position in Arbutus Biopharma in the 1st quarter valued at approximately $1,793,000. Hudson Bay Capital Management LP lifted its stake in Arbutus Biopharma by 21.9% in the 2nd quarter. Hudson Bay Capital Management LP now owns 975,000 shares of the biopharmaceutical company’s stock valued at $1,774,000 after purchasing an additional 175,000 shares during the last quarter. Finally, UBS Group AG lifted its stake in Arbutus Biopharma by 52.2% in the 1st quarter. UBS Group AG now owns 370,148 shares of the biopharmaceutical company’s stock valued at $374,000 after purchasing an additional 126,930 shares during the last quarter. 32.29% of the stock is owned by hedge funds and other 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.

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Analyst Recommendations for Arbutus Biopharma (NASDAQ:ABUS)

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