Arbutus Biopharma (NASDAQ:ABUS) Trading Down 3.5%

Shares of Arbutus Biopharma Co. (NASDAQ:ABUS) dropped 3.5% during trading on Thursday . The stock traded as low as $4.40 and last traded at $4.40. Approximately 285,110 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 1,115,361 shares. The stock had previously closed at $4.56.

Analyst Upgrades and Downgrades

ABUS has been the subject of several analyst reports. StockNews.com upgraded shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Chardan Capital reissued a “buy” rating and set a $4.00 target price on shares of Arbutus Biopharma in a research note on Wednesday, June 5th. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of Arbutus Biopharma in a research report on Thursday, June 6th. JMP Securities lifted their price objective on Arbutus Biopharma from $4.00 to $5.00 and gave the stock a “market outperform” rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group upped their target price on Arbutus Biopharma from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Arbutus Biopharma currently has an average rating of “Moderate Buy” and an average target price of $5.25.

Arbutus Biopharma Price Performance

The business’s fifty day simple moving average is $3.85 and its 200 day simple moving average is $3.24. The firm has a market capitalization of $843.85 million, a price-to-earnings ratio of -10.16 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) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The firm had revenue of $1.73 million during the quarter, compared to analyst estimates of $1.54 million. Arbutus Biopharma had a negative net margin of 766.20% and a negative return on equity of 66.68%. During the same quarter in the prior year, the business earned ($0.10) earnings per share. Equities research analysts expect that Arbutus Biopharma Co. will post -0.38 earnings per share for the current fiscal year.

Institutional Trading of Arbutus Biopharma

A number of hedge funds and other institutional investors have recently bought and sold shares of ABUS. nVerses Capital LLC acquired a new stake in shares of Arbutus Biopharma in the 2nd quarter worth about $34,000. Walleye Trading LLC purchased a new stake in shares of Arbutus Biopharma in the first quarter worth approximately $36,000. XTX Topco Ltd bought a new position in shares of Arbutus Biopharma in the second quarter valued at approximately $53,000. Premier Path Wealth Partners LLC boosted its position in shares of Arbutus Biopharma by 37.4% during the first quarter. Premier Path Wealth Partners LLC now owns 30,500 shares of the biopharmaceutical company’s stock valued at $79,000 after buying an additional 8,300 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Arbutus Biopharma by 66.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 32,233 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 12,833 shares in the last quarter. Institutional investors own 43.79% of the company’s stock.

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.