Arbutus Biopharma Co. (NASDAQ:ABUS) Short Interest Update

Arbutus Biopharma Co. (NASDAQ:ABUS - Get Free Report) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 6,540,000 shares, a decline of 16.0% from the October 15th total of 7,790,000 shares. Based on an average trading volume of 1,100,000 shares, the short-interest ratio is presently 5.9 days.

Arbutus Biopharma Trading Up 0.3 %

Arbutus Biopharma stock traded up $0.01 during midday trading on Friday, hitting $3.64. The stock had a trading volume of 1,791,235 shares, compared to its average volume of 1,111,374. Arbutus Biopharma has a 52-week low of $1.75 and a 52-week high of $4.72. The firm's fifty day moving average is $3.98 and its two-hundred day moving average is $3.61. The company has a market capitalization of $689.74 million, a PE ratio of -8.46 and a beta of 1.92.

Institutional Investors Weigh In On Arbutus Biopharma

A number of institutional investors and hedge funds have recently modified their holdings of the business. nVerses Capital LLC acquired a new position in shares of Arbutus Biopharma in the second quarter worth about $34,000. Walleye Trading LLC purchased a new stake in shares of Arbutus Biopharma during the 1st quarter worth $36,000. Helen Stephens Group LLC purchased a new stake in Arbutus Biopharma in the third quarter valued at $50,000. XTX Topco Ltd acquired a new stake in Arbutus Biopharma during the 2nd quarter worth $53,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Arbutus Biopharma by 22.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 36,388 shares of the biopharmaceutical company's stock worth $94,000 after acquiring an additional 6,649 shares during the period. 43.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ABUS shares. Jefferies Financial Group lifted their price target on shares of Arbutus Biopharma from $5.00 to $7.00 and gave the company a "buy" rating in a research note on Thursday, September 5th. HC Wainwright reissued a "buy" rating and set a $5.00 target price on shares of Arbutus Biopharma in a research note on Thursday, November 7th. Chardan Capital lifted their price objective on Arbutus Biopharma from $4.00 to $4.50 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. StockNews.com upgraded Arbutus Biopharma from a "sell" rating to a "hold" rating in a report on Saturday, August 10th. Finally, JMP Securities boosted their price objective on Arbutus Biopharma to $5.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Arbutus Biopharma currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.38.

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.