Arbutus Biopharma (NASDAQ:ABUS) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Arbutus Biopharma (NASDAQ:ABUS) from a buy rating to a hold rating in a research note published on Saturday morning.

Separately, Weiss Ratings upgraded shares of Arbutus Biopharma from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $5.00.

Arbutus Biopharma Trading Up 0.9%

Shares of NASDAQ:ABUS opened at $4.71 on Friday. Arbutus Biopharma has a 1-year low of $3.35 and a 1-year high of $5.38. The stock has a market capitalization of $931.86 million, a P/E ratio of 5.96 and a beta of 0.64. The business has a 50-day moving average price of $4.57 and a two-hundred day moving average price of $4.43.

Arbutus Biopharma (NASDAQ:ABUS) last issued its earnings results on Wednesday, August 12th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Arbutus Biopharma had a net margin of 84.22% and a return on equity of 90.98%. The business had revenue of $1.01 million during the quarter, compared to the consensus estimate of $0.70 million.

Hedge Funds Weigh In On Arbutus Biopharma

Hedge funds have recently added to or reduced their stakes in the stock. Oxford Asset Management LLP bought a new position in Arbutus Biopharma during the second quarter worth about $38,000. Stoneridge Investment Partners LLC bought a new stake in shares of Arbutus Biopharma in the 2nd quarter valued at about $44,000. Voleon Capital Management LP bought a new stake in shares of Arbutus Biopharma in the 3rd quarter valued at about $47,000. Cibc World Markets Corp acquired a new stake in shares of Arbutus Biopharma in the 4th quarter valued at approximately $48,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Arbutus Biopharma in the 1st quarter valued at approximately $49,000. Institutional investors and hedge funds own 43.79% of the company’s stock.

Arbutus Biopharma Company Profile

Arbutus Biopharma Corporation is a clinical-stage biopharmaceutical company dedicated to discovering, developing and advancing a cure for chronic hepatitis B virus (HBV) infection. The company’s pipeline features both direct-acting antivirals and host-targeting therapies designed to reduce viral load and restore immune function. Lead programs include an RNA interference (RNAi) candidate aimed at silencing viral gene expression and next-generation capsid assembly modulators that seek to inhibit viral replication at its core.

In addition to its antiviral portfolio, Arbutus leverages proprietary lipid nanoparticle (LNP) delivery technology to optimize the distribution and cellular uptake of nucleic acid therapeutics.