Arbutus Biopharma Corp (ABUS) Upgraded by Chardan Capital to “Buy”

Chardan Capital upgraded shares of Arbutus Biopharma Corp (NASDAQ:ABUS) from a neutral rating to a buy rating in a research report released on Tuesday. The firm currently has $6.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $3.00.

ABUS has been the subject of several other research reports. Zacks Investment Research raised shares of Arbutus Biopharma Corp from a sell rating to a hold rating in a report on Friday, February 17th. Wedbush reaffirmed an outperform rating and set a $10.00 target price on shares of Arbutus Biopharma Corp in a report on Tuesday, January 31st. Finally, Bloom Burton reaffirmed an accumulate rating on shares of Arbutus Biopharma Corp in a report on Wednesday, December 14th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Arbutus Biopharma Corp currently has a consensus rating of Buy and an average price target of $6.25.

Shares of Arbutus Biopharma Corp (NASDAQ:ABUS) traded up 0.30% during midday trading on Tuesday, reaching $3.36. 39,770 shares of the company were exchanged. The stock has a 50-day moving average price of $3.10 and a 200 day moving average price of $2.88. Arbutus Biopharma Corp has a 52-week low of $2.35 and a 52-week high of $5.48. The company’s market capitalization is $184.88 million.

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Institutional investors have recently modified their holdings of the stock. K2 Principal Fund L.P. boosted its position in shares of Arbutus Biopharma Corp by 69.3% in the third quarter. K2 Principal Fund L.P. now owns 107,620 shares of the biopharmaceutical company’s stock valued at $370,000 after buying an additional 44,070 shares during the last quarter. Oxford Asset Management purchased a new position in shares of Arbutus Biopharma Corp during the fourth quarter valued at approximately $392,000. Baker BROS. Advisors LP purchased a new position in shares of Arbutus Biopharma Corp during the third quarter valued at approximately $621,000. Bank of Montreal Can boosted its position in shares of Arbutus Biopharma Corp by 6.3% in the third quarter. Bank of Montreal Can now owns 861,553 shares of the biopharmaceutical company’s stock valued at $2,964,000 after buying an additional 50,768 shares during the last quarter. Finally, Armistice Capital LLC boosted its position in shares of Arbutus Biopharma Corp by 38.6% in the fourth quarter. Armistice Capital LLC now owns 1,940,000 shares of the biopharmaceutical company’s stock valued at $4,753,000 after buying an additional 540,000 shares during the last quarter. Institutional investors own 61.24% of the company’s stock.

About Arbutus Biopharma Corp

Arbutus Biopharma Corporation, formerly Tekmira Pharmaceuticals Corporation, is a therapeutic solutions company. The Company is engaged in discovering, developing and commercializing a cure for patients suffering from chronic hepatitis B infection (HBV), a disease of the liver caused by the hepatitis B virus (HBV).

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