Arbutus Biopharma (NASDAQ:ABUS) Shares Up 6.6% – What’s Next?

Arbutus Biopharma Corporation (NASDAQ:ABUS)’s share price shot up 6.6% during mid-day trading on Monday . The stock traded as high as $4.94 and last traded at $5.0230. 418,364 shares were traded during mid-day trading, a decline of 57% from the average session volume of 963,591 shares. The stock had previously closed at $4.71.

Analyst Upgrades and Downgrades

ABUS has been the topic of a number of recent analyst reports. Chardan Capital reiterated a “buy” rating and set a $5.00 price target on shares of Arbutus Biopharma in a report on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arbutus Biopharma in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered Arbutus Biopharma from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Arbutus Biopharma presently has an average rating of “Hold” and a consensus target price of $5.00.

Arbutus Biopharma Stock Performance

The business’s 50-day simple moving average is $4.47 and its 200 day simple moving average is $3.94. The firm has a market cap of $889.48 million, a P/E ratio of -20.11 and a beta of 0.66.

Arbutus Biopharma (NASDAQ:ABUS) last released its quarterly earnings data on Thursday, November 13th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. Arbutus Biopharma had a negative net margin of 289.79% and a negative return on equity of 50.26%. The firm had revenue of $0.53 million for the quarter, compared to analysts’ expectations of $1.31 million. As a group, equities research analysts expect that Arbutus Biopharma Corporation will post -0.39 EPS for the current year.

Institutional Trading of Arbutus Biopharma

Several hedge funds have recently made changes to their positions in the business. CIBC Bancorp USA Inc. purchased a new position in Arbutus Biopharma in the third quarter worth about $73,000. Two Seas Capital LP lifted its stake in shares of Arbutus Biopharma by 5.2% in the 3rd quarter. Two Seas Capital LP now owns 10,991,261 shares of the biopharmaceutical company’s stock valued at $49,900,000 after purchasing an additional 547,944 shares during the last quarter. Voleon Capital Management LP purchased a new position in shares of Arbutus Biopharma in the 3rd quarter worth approximately $47,000. Sherbrooke Park Advisers LLC boosted its holdings in shares of Arbutus Biopharma by 71.4% in the 3rd quarter. Sherbrooke Park Advisers LLC now owns 37,073 shares of the biopharmaceutical company’s stock worth $168,000 after purchasing an additional 15,439 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its holdings in Arbutus Biopharma by 9.2% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 38,959 shares of the biopharmaceutical company’s stock valued at $177,000 after buying an additional 3,280 shares during the period. 43.79% of the stock is currently owned by hedge funds and other institutional investors.

Arbutus Biopharma Company Profile

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection in the United States. Its HBV product pipeline consists of imdusiran (AB-729), a proprietary subcutaneously-delivered RNAi therapeutic product candidate that suppresses all HBV antigens, including HBsAg expression.