Arbutus Biopharma (NASDAQ:ABUS) Shares Up 5%

Arbutus Biopharma Co. (NASDAQ:ABUS)’s share price was up 5% during mid-day trading on Wednesday . The company traded as high as $4.19 and last traded at $4.19. Approximately 709,973 shares were traded during trading, a decline of 35% from the average daily volume of 1,094,106 shares. The stock had previously closed at $3.99.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $5.00 price target on shares of Arbutus Biopharma in a research report on Thursday, June 6th. StockNews.com raised shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. Chardan Capital restated a “buy” rating and issued a $4.00 price target on shares of Arbutus Biopharma in a research report on Wednesday, June 5th. Jefferies Financial Group lifted their price objective on shares of Arbutus Biopharma from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, JMP Securities increased their target price on Arbutus Biopharma from $4.00 to $5.00 and gave the company a “market outperform” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Arbutus Biopharma presently has an average rating of “Moderate Buy” and an average price target of $5.25.

Arbutus Biopharma Price Performance

The firm’s fifty day moving average is $3.69 and its 200 day moving average is $3.18. The firm has a market capitalization of $858.66 million, a price-to-earnings ratio of -10.25 and a beta of 1.92.

Arbutus Biopharma (NASDAQ:ABUS) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Arbutus Biopharma had a negative net margin of 766.20% and a negative return on equity of 66.68%. The company had revenue of $1.73 million for the quarter, compared to analyst estimates of $1.54 million. During the same period last year, the business earned ($0.10) EPS. Equities research analysts forecast that Arbutus Biopharma Co. will post -0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Arbutus Biopharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC bought a new position in shares of Arbutus Biopharma during the 1st quarter valued at $266,000. BNP Paribas Financial Markets lifted its position in shares of Arbutus Biopharma by 19.7% in the first quarter. BNP Paribas Financial Markets now owns 349,435 shares of the biopharmaceutical company’s stock worth $902,000 after buying an additional 57,390 shares during the last quarter. Kennedy Capital Management LLC boosted its stake in shares of Arbutus Biopharma by 12.7% during the 1st quarter. Kennedy Capital Management LLC now owns 436,506 shares of the biopharmaceutical company’s stock worth $1,126,000 after acquiring an additional 49,265 shares in the last quarter. Walleye Trading LLC acquired a new position in shares of Arbutus Biopharma during the 1st quarter valued at about $36,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Arbutus Biopharma by 22.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,388 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 6,649 shares in the last quarter. Institutional investors own 43.79% of the company’s stock.

About Arbutus Biopharma

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.