StockNews.com Lowers Arbutus Biopharma's Rating to Sell

On Tuesday, investment analysts from StockNews.com announced a downgrade for Arbutus Biopharma (NASDAQ:ABUS), changing its rating from "hold" to "sell" in a recent research note.

In addition to StockNews.com's downgrade, other research firms have also provided updates regarding Arbutus Biopharma. JMP Securities increased its target price for ABUS shares to $5.00 and assigned it a "buy" rating in a report dated November 6th. Likewise, Chardan Capital reaffirmed a "buy" rating while raising its target price for the stock to $5.00, up from the previous $4.50, in their report on November 20th. Similarly, HC Wainwright reaffirmed their "buy" rating and target price of $5.00 as of January 21st. Overall, one analyst has issued a sell rating for Arbutus Biopharma, while four have classified it as a buy. According to MarketBeat data, the current consensus rating for the company is "Moderate Buy," with a consensus target price of $5.50.

Current Trading Status of Arbutus Biopharma

During midday trading on Tuesday, shares of NASDAQ:ABUS rose by $0.11, trading at $3.45, with a total trading volume of 3,530,405 shares, significantly higher than its average volume of 772,056. The company's 50-day simple moving average stands at $3.31, while the 200-day simple moving average is at $3.66. Over the last year, Arbutus Biopharma has experienced a low of $2.30 and a high of $4.72. The stock is currently valued at a market cap of $653.74 million, with a price-to-earnings (P/E) ratio of -8.02 and a beta of 1.78.

Institutional Ownership of Arbutus Biopharma

Recently, various hedge funds and institutional investors have made changes to their stakes in Arbutus Biopharma. State Street Corp increased its holdings in the company by 50.2% during the third quarter, bringing its total ownership to 4,407,133 shares valued at approximately $16,967,000 after acquiring an additional 1,472,652 shares. Rangeley Capital LLC purchased a new stake in Arbutus Biopharma during the fourth quarter, worth about $4,771,000. Charles Schwab Investment Management Inc. expanded its position in the stock by 218.5% in the third quarter, holding now 1,212,246 shares valued at $4,667,000 after adding 831,663 shares. Furthermore, JPMorgan Chase & Co. significantly boosted its holdings by 900.4% in the fourth quarter, now owning 896,258 shares valued at $2,931,000 after buying an additional 806,672 shares. Lastly, Whitefort Capital Management LP grew its shareholding in Arbutus Biopharma by 2.9%, totaling 13,241,916 shares worth around $43,301,000 after purchasing an additional 373,949 shares. Currently, institutional investors and hedge funds possess 43.79% of the company's outstanding shares.

About Arbutus Biopharma

Arbutus Biopharma Corporation is a biopharmaceutical company that specializes in developing innovative treatments for chronic Hepatitis B virus (HBV) infections within the United States. The company's pipeline for HBV products includes imdusiran (AB-729), a unique RNA interference (RNAi) therapeutic candidate designed for subcutaneous delivery, aimed at suppressing all HBV antigens, including HBsAg expression.

Stock, Downgrade, Biopharma