Arbutus Biopharma (NASDAQ:ABUS) Trading Down 6.3% - Here's Why

Arbutus Biopharma Co. (NASDAQ:ABUS - Get Free Report) shares were down 6.3% on Monday . The company traded as low as $2.89 and last traded at $3.03. Approximately 401,394 shares traded hands during trading, a decline of 59% from the average daily volume of 980,240 shares. The stock had previously closed at $3.23.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Chardan Capital restated a "buy" rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a report on Friday, March 28th. StockNews.com raised Arbutus Biopharma from a "sell" rating to a "hold" rating in a research note on Saturday, March 29th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $5.00 price objective on shares of Arbutus Biopharma in a research note on Tuesday, January 21st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Arbutus Biopharma has a consensus rating of "Moderate Buy" and an average target price of $5.50.

Arbutus Biopharma Stock Up 0.6 %

The stock has a market cap of $601.25 million, a price-to-earnings ratio of -7.30 and a beta of 1.45. The stock's fifty day moving average is $3.31 and its 200-day moving average is $3.49.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The biopharmaceutical company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.01. The business had revenue of $1.57 million during the quarter, compared to analysts' expectations of $2.20 million. Arbutus Biopharma had a negative net margin of 1,137.65% and a negative return on equity of 68.18%. As a group, equities research analysts predict that Arbutus Biopharma Co. will post -0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ABUS. SBI Securities Co. Ltd. bought a new stake in Arbutus Biopharma in the 4th quarter valued at $236,000. Charles Schwab Investment Management Inc. lifted its position in shares of Arbutus Biopharma by 218.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,212,246 shares of the biopharmaceutical company's stock valued at $4,667,000 after buying an additional 831,663 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Arbutus Biopharma during the third quarter worth $754,000. Barclays PLC boosted its holdings in shares of Arbutus Biopharma by 466.3% during the 3rd quarter. Barclays PLC now owns 272,029 shares of the biopharmaceutical company's stock worth $1,047,000 after buying an additional 223,995 shares during the period. Finally, State Street Corp boosted its holdings in shares of Arbutus Biopharma by 50.2% during the third quarter. State Street Corp now owns 4,407,133 shares of the biopharmaceutical company's stock worth $16,967,000 after acquiring an additional 1,472,652 shares during the period. Institutional investors own 43.79% of the company's stock.

About Arbutus Biopharma

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.