Shares of Arbutus Biopharma Co. (NASDAQ:ABUS - Get Free Report) traded up 4.1% on Friday following a stronger than expected earnings report. The company traded as high as $3.38 and last traded at $3.41. 167,925 shares traded hands during trading, a decline of 84% from the average session volume of 1,030,959 shares. The stock had previously closed at $3.27.
The biopharmaceutical company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.01. Arbutus Biopharma had a negative return on equity of 68.18% and a negative net margin of 1,137.65%. The firm had revenue of $1.57 million during the quarter, compared to the consensus estimate of $2.20 million.
Wall Street Analyst Weigh In
ABUS has been the subject of several analyst reports. HC Wainwright restated a "buy" rating and issued a $5.00 target price on shares of Arbutus Biopharma in a research report on Tuesday, January 21st. StockNews.com upgraded shares of Arbutus Biopharma from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Chardan Capital restated a "buy" rating and set a $5.00 target price on shares of Arbutus Biopharma in a research note on Friday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.50.
View Our Latest Stock Analysis on ABUS
Institutional Investors Weigh In On Arbutus Biopharma
Hedge funds and other institutional investors have recently made changes to their positions in the stock. E Fund Management Co. Ltd. bought a new stake in shares of Arbutus Biopharma during the fourth quarter worth $34,000. Xponance Inc. acquired a new stake in shares of Arbutus Biopharma during the 4th quarter valued at $34,000. Raymond James Financial Inc. bought a new stake in Arbutus Biopharma during the 4th quarter worth $34,000. Cibc World Markets Corp acquired a new position in shares of Arbutus Biopharma in the fourth quarter valued at approximately $45,000. Finally, Hsbc Holdings PLC bought a new position in shares of Arbutus Biopharma during the fourth quarter valued at $55,000. 43.79% of the stock is owned by institutional investors.
Arbutus Biopharma Trading Up 1.0 %
The company has a 50-day moving average of $3.34 and a 200-day moving average of $3.55. The firm has a market capitalization of $667.96 million, a P/E ratio of -8.24 and a beta of 1.93.
About Arbutus Biopharma
(
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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.
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