Arbutus Biopharma Co. (NASDAQ:ABUS - Get Free Report)'s stock price shot up 6.3% on Thursday . The stock traded as high as $3.44 and last traded at $3.39. 119,890 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 1,021,157 shares. The stock had previously closed at $3.19.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on ABUS. StockNews.com lowered shares of Arbutus Biopharma from a "hold" rating to a "sell" rating in a research note on Thursday. Chardan Capital reissued a "buy" rating and issued a $5.00 price objective (up from $4.50) on shares of Arbutus Biopharma in a report on Wednesday, November 20th. Finally, 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. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $5.50.
Read Our Latest Research Report on ABUS
Arbutus Biopharma Trading Down 0.6 %
The business's 50-day simple moving average is $3.33 and its 200 day simple moving average is $3.61. The company has a market capitalization of $621.53 million, a P/E ratio of -7.63 and a beta of 1.93.
Institutional Investors Weigh In On Arbutus Biopharma
Institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new stake in shares of Arbutus Biopharma in the 3rd quarter worth $142,000. Charles Schwab Investment Management Inc. raised its position in 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 worth $4,667,000 after acquiring an additional 831,663 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Arbutus Biopharma by 453.1% in 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Arbutus Biopharma in the 3rd quarter valued at about $754,000. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Arbutus Biopharma during the 3rd quarter valued at about $243,000. 43.79% of the stock is currently owned by institutional investors and hedge funds.
About Arbutus Biopharma
(
Get Free Report)
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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