Arbutus Biopharma (ABUS) Downgraded to “Market Perform” at JMP Securities

JMP Securities downgraded shares of Arbutus Biopharma (NASDAQ:ABUS) to a market perform rating in a report published on Tuesday morning, The Fly reports.

A number of other equities research analysts also recently issued reports on the stock. Wedbush downgraded shares of Arbutus Biopharma from a neutral rating to an underperform rating and set a $5.00 price target on the stock. in a research note on Tuesday. B. Riley boosted their price target on shares of Arbutus Biopharma from $9.00 to $11.50 and gave the company a neutral rating in a research note on Monday, August 13th. Zacks Investment Research downgraded shares of Arbutus Biopharma from a hold rating to a sell rating in a research note on Wednesday, August 8th. Chardan Capital reaffirmed a buy rating and set a $11.00 target price on shares of Arbutus Biopharma in a research note on Monday, July 16th. Finally, BidaskClub raised shares of Arbutus Biopharma from a buy rating to a strong-buy rating in a research note on Thursday, June 21st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $7.60.

Arbutus Biopharma stock opened at $4.31 on Tuesday. The company has a market capitalization of $523.57 million, a PE ratio of -2.47 and a beta of 0.96. Arbutus Biopharma has a 1 year low of $4.06 and a 1 year high of $12.60. The company has a current ratio of 13.67, a quick ratio of 13.67 and a debt-to-equity ratio of 0.01.

Arbutus Biopharma (NASDAQ:ABUS) last released its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.09). The company had revenue of $1.20 million during the quarter. Arbutus Biopharma had a negative net margin of 515.00% and a negative return on equity of 75.07%. On average, research analysts forecast that Arbutus Biopharma will post -1.62 EPS for the current year.

In related news, insider Michael J. Sofia sold 4,250 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $9.51, for a total transaction of $40,417.50. Following the sale, the insider now directly owns 1,499,153 shares of the company’s stock, valued at approximately $14,256,945.03. The sale was disclosed in a legal filing with the SEC, which is available through this link. 7.60% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in ABUS. BlackRock Inc. increased its stake in Arbutus Biopharma by 246.6% during the 2nd quarter. BlackRock Inc. now owns 2,391,143 shares of the biopharmaceutical company’s stock worth $17,455,000 after buying an additional 1,701,237 shares during the period. Bank of Montreal Can purchased a new stake in Arbutus Biopharma during the 2nd quarter worth approximately $6,897,000. Northern Trust Corp purchased a new stake in Arbutus Biopharma during the 2nd quarter worth approximately $2,164,000. Bank of New York Mellon Corp acquired a new position in Arbutus Biopharma during the 2nd quarter worth approximately $609,000. Finally, Millennium Management LLC grew its holdings in Arbutus Biopharma by 559.4% during the 2nd quarter. Millennium Management LLC now owns 87,089 shares of the biopharmaceutical company’s stock worth $636,000 after acquiring an additional 73,882 shares in the last quarter. 40.05% of the stock is currently 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. It also develops a pipeline of products based on RNA interference therapeutics (RNAi).

See Also: Beta

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Analyst Recommendations for Arbutus Biopharma (NASDAQ:ABUS)

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