Arbutus Biopharma (NASDAQ:ABUS) Rating Increased to Buy at StockNews.com
research firms have also recently issued reports on ABUS. Arbutus Biopharma was upgraded to a 'buy' rating by StockNews.com. This follows several other research firms who have recently issued reports on ABUS.
Investors received a Friday note that changed the rating from 'hold' to 'buy'.
Several other research analysts have also commented on ABUS. Chardan Capital reaffirmed a 'buy' rating and issued a $6.00 price target on shares of Arbutus Biopharma in a report on Friday, March 3rd. HC Wainwright reaffirmed a 'buy' rating and issued a $6.00 price target on shares of Arbutus Biopharma in a report on Wednesday, April 5th. Finally, JMP Securities reiterated a 'market outperform' rating and set a $6.00 price target on shares of Arbutus Biopharma in a research report on Wednesday, March 29th.
ABUS stock
traded up $0.05 during mid-day trading on Friday, hitting $2.60. 444,781 shares of the company were exchanged, compared to its average volume of 911,859. The company has a market capitalization of $429.19 million, a PE ratio of -5.53 and a beta of 2.25. The company has a current ratio of 4.60, a quick ratio of 4.60 and a debt-to-equity ratio of 0.04. Arbutus Biopharma has a twelve month low of $1.85 and a twelve month high of $3.14. The firm has a fifty day simple moving average of $2.86 and a 200 day simple moving average of $2.68.
The last time the company released its quarterly results was on Thursday, 2nd March. The biopharmaceutical firm reported ($0.14) per share in earnings for the third quarter, beating the consensus estimate ($0.14). Revenue for the quarter was $6.25m, which is lower than analyst expectations of $6.31m. Arbutus Biopharma's negative net margin was 178.01%, and its negative return on equity was 46.20%. Research analysts predict that Arbutus Biopharma's current fiscal year will see a -0.57 per share average earnings.
Arbutus Biopharma: hedge funds weigh in
Recently, hedge funds changed their holdings in the company. Moneta Group Investment Advisors LLC increased its stake in Arbutus biopharma shares by 114139.4% during 4th quarter. Moneta Group Investment Advisors LLC owns 14,952,790 of the biopharmaceutical stock, worth $34,840,000. This is after purchasing an additional 14,939 701 shares during the last quarter. BlackRock Inc. increased its stake in Arbutus biopharma shares by 10.7% in the first quarter. BlackRock Inc. owns 6,824,829 of the biopharmaceutical stock, worth $20,338,000, after purchasing an additional 658 480 shares during the last quarter. Two Seas Capital LP increased its holdings in Arbutus Biopharma shares by 61.5% over the third quarter. Two Seas Capital LP owns 5,653,917 of the biopharmaceutical stock, worth $10,799,000, after acquiring 2,152,041 additional shares during the last quarter. Vanguard Group Inc. increased its stake in Arbutus Biopharma shares by 1.2% during 3rd Quarter. Vanguard Group Inc. owns 5,265,884 of the biopharmaceutical stock, worth $10,058,000, after purchasing 64,485 additional shares during the last quarter. Millennium Management LLC increased its holdings in Arbutus Biopharma shares by 106.3% over the second quarter. Millennium Management LLC owns 4,159.064 shares worth $11,271,000 of the biopharmaceutical firm's stock after purchasing an additional 2,142.740 shares during the last quarter. Institutional investors and hedge fund currently own 31.03%.
Arbutus Biopharma
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Arbutus Biopharma Corp., a biopharmaceutical firm, was founded in 1998. It is engaged in the discovery, development and commercialization of a cure for chronic Hepatitis-B virus infection. The company was established in 2007. Its headquarters are in Warminster.
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