Arbutus Biopharma (NASDAQ:ABUS) Sees Large Volume Increase - Should You Buy?

Arbutus Biopharma Co. (NASDAQ:ABUS - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 1,058,583 shares changed hands during mid-day trading, an increase of 54% from the previous session's volume of 689,275 shares.The stock last traded at $3.45 and had previously closed at $3.27.

Analyst Ratings Changes

Several research analysts recently commented on the stock. JMP Securities raised their price target on shares of Arbutus Biopharma to $5.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. HC Wainwright reaffirmed a "buy" rating and issued a $5.00 price target on shares of Arbutus Biopharma in a research note on Monday, November 18th. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $5.00 price target (up previously from $4.50) on shares of Arbutus Biopharma in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $5.50.

Arbutus Biopharma Trading Up 4.3 %

The firm's fifty day moving average price is $3.53 and its 200 day moving average price is $3.71. The firm has a market capitalization of $646.17 million, a PE ratio of -7.93 and a beta of 1.78.

Institutional Trading of Arbutus Biopharma

Several hedge funds have recently added to or reduced their stakes in the company. Helen Stephens Group LLC purchased a new position in shares of Arbutus Biopharma during the third quarter worth approximately $50,000. XTX Topco Ltd purchased a new position in shares of Arbutus Biopharma during the second quarter worth approximately $53,000. China Universal Asset Management Co. Ltd. grew its position in shares of Arbutus Biopharma by 63.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 36,309 shares of the biopharmaceutical company's stock worth $140,000 after acquiring an additional 14,138 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Arbutus Biopharma during the third quarter worth approximately $142,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of 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 during the last quarter. Institutional investors and hedge funds 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.