Short Interest in Arbutus Biopharma Co. (NASDAQ:ABUS) Grows By 16.6%

Arbutus Biopharma Co. (NASDAQ:ABUS - Get Free Report) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 8,410,000 shares, a growth of 16.6% from the February 13th total of 7,210,000 shares. Currently, 4.6% of the shares of the stock are short sold. Based on an average daily volume of 860,500 shares, the days-to-cover ratio is presently 9.8 days.

Hedge Funds Weigh In On Arbutus Biopharma

Several hedge funds and other institutional investors have recently made changes to their positions in ABUS. Intech Investment Management LLC acquired a new position in Arbutus Biopharma in the 3rd quarter valued at approximately $142,000. Charles Schwab Investment Management Inc. boosted its stake in Arbutus Biopharma by 218.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,212,246 shares of the biopharmaceutical company's stock worth $4,667,000 after acquiring an additional 831,663 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Arbutus Biopharma by 453.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,503 shares of the biopharmaceutical company's stock worth $144,000 after acquiring an additional 30,723 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Arbutus Biopharma in the third quarter valued at $754,000. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Arbutus Biopharma in the third quarter valued at $243,000. 43.79% of the stock is currently owned by institutional investors and hedge funds.

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Arbutus Biopharma Trading Down 0.9 %

NASDAQ ABUS traded down $0.03 during trading on Friday, reaching $3.28. The company's stock had a trading volume of 1,840,223 shares, compared to its average volume of 1,030,491. The firm has a market capitalization of $621.53 million, a price-to-earnings ratio of -7.63 and a beta of 1.93. Arbutus Biopharma has a 12 month low of $2.30 and a 12 month high of $4.73. The firm has a 50 day moving average price of $3.32 and a 200 day moving average price of $3.60.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a research note on Tuesday, January 21st. StockNews.com cut shares of Arbutus Biopharma from a "hold" rating to a "sell" rating in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, Arbutus Biopharma has an average rating of "Moderate Buy" and an average price target of $5.50.

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.