Arbutus Biopharma (NASDAQ:ABUS) Sees Strong Trading Volume – Time to Buy?

Arbutus Biopharma Corporation (NASDAQ:ABUS) shares saw unusually-high trading volume on Wednesday . Approximately 1,366,387 shares changed hands during trading, a decline of 35% from the previous session’s volume of 2,113,071 shares.The stock last traded at $4.4860 and had previously closed at $4.35.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Arbutus Biopharma in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Arbutus Biopharma currently has a consensus rating of “Hold” and a consensus target price of $5.00.

Arbutus Biopharma Price Performance

The firm has a market cap of $914.84 million, a PE ratio of -27.53 and a beta of 0.74. The stock has a 50-day moving average price of $4.39 and a 200 day moving average price of $4.43.

Arbutus Biopharma (NASDAQ:ABUS) last released its earnings results on Friday, March 20th. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.05. The firm had revenue of $1.05 million for the quarter, compared to the consensus estimate of $0.83 million. Arbutus Biopharma had a negative return on equity of 42.39% and a negative net margin of 237.88%. As a group, equities research analysts anticipate that Arbutus Biopharma Corporation will post -0.39 earnings per share for the current year.

Institutional Investors Weigh In On Arbutus Biopharma

Several hedge funds have recently modified their holdings of ABUS. Oxford Asset Management LLP acquired a new position in Arbutus Biopharma during the second quarter worth approximately $38,000. Voleon Capital Management LP purchased a new stake in shares of Arbutus Biopharma during the 3rd quarter valued at $47,000. Cibc World Markets Corp acquired a new stake in shares of Arbutus Biopharma during the 4th quarter worth $48,000. Daiwa Securities Group Inc. raised its position in shares of Arbutus Biopharma by 3,911.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 15,844 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 15,449 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in Arbutus Biopharma by 71.5% in the second quarter. Prudential Financial Inc. now owns 18,255 shares of the biopharmaceutical company’s stock valued at $56,000 after acquiring an additional 7,610 shares during the last quarter. 43.79% of the stock is owned by institutional investors and hedge funds.

About Arbutus Biopharma

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.