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

Arbutus Biopharma Co. (NASDAQ:ABUS - Get Free Report) was the target of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 6,060,000 shares, a drop of 7.3% from the October 31st total of 6,540,000 shares. Based on an average trading volume of 1,150,000 shares, the short-interest ratio is currently 5.3 days.

Wall Street Analysts Forecast Growth

ABUS has been the subject of a number of research analyst reports. Jefferies Financial Group upped their target price on shares of Arbutus Biopharma from $5.00 to $7.00 and gave the stock a "buy" rating in a research note on Thursday, September 5th. Chardan Capital reiterated a "buy" rating and set a $5.00 price objective (up from $4.50) on shares of Arbutus Biopharma in a report on Wednesday, November 20th. StockNews.com upgraded Arbutus Biopharma from a "sell" rating to a "hold" rating in a research note on Saturday, August 10th. HC Wainwright reaffirmed a "buy" rating and set a $5.00 price target on shares of Arbutus Biopharma in a research note on Monday, November 18th. Finally, JMP Securities increased their target price on shares of Arbutus Biopharma to $5.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $5.50.

Hedge Funds Weigh In On Arbutus Biopharma

A number of institutional investors have recently added to or reduced their stakes in ABUS. State Street Corp grew its position in shares of Arbutus Biopharma by 50.2% in the 3rd quarter. State Street Corp now owns 4,407,133 shares of the biopharmaceutical company's stock valued at $16,967,000 after acquiring an additional 1,472,652 shares during the period. Geode Capital Management LLC lifted its stake in Arbutus Biopharma by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,448,600 shares of the biopharmaceutical company's stock valued at $13,280,000 after purchasing an additional 135,442 shares during the last quarter. Rubric Capital Management LP bought a new position in Arbutus Biopharma during the second quarter worth about $5,195,000. Charles Schwab Investment Management Inc. increased its position 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 buying an additional 831,663 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Arbutus Biopharma by 4.6% during the third quarter. Wellington Management Group LLP now owns 496,818 shares of the biopharmaceutical company's stock worth $1,913,000 after buying an additional 21,807 shares during the last quarter. 43.79% of the stock is currently owned by institutional investors and hedge funds.

Arbutus Biopharma Stock Performance

Shares of NASDAQ:ABUS remained flat at $3.46 during trading on Monday. The company's stock had a trading volume of 873,429 shares, compared to its average volume of 1,101,917. Arbutus Biopharma has a 52-week low of $1.98 and a 52-week high of $4.72. The stock has a market capitalization of $655.64 million, a PE ratio of -8.05 and a beta of 1.92. The firm has a fifty day simple moving average of $3.81 and a two-hundred day simple moving average of $3.67.

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.