Arbutus Biopharma (NASDAQ:ABUS) Hits New 12-Month High at $3.44

Shares of Arbutus Biopharma Co. (NASDAQ:ABUS - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $3.44 and last traded at $3.41, with a volume of 33705 shares trading hands. The stock had previously closed at $3.42.

Analyst Ratings Changes

A number of equities analysts have recently commented on ABUS shares. Chardan Capital reissued a "buy" rating and issued a $4.00 target price on shares of Arbutus Biopharma in a research note on Friday, May 3rd. HC Wainwright lowered their price target on shares of Arbutus Biopharma from $6.00 to $5.00 and set a "buy" rating for the company in a report on Friday, March 1st. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $4.00 price target on shares of Arbutus Biopharma in a report on Thursday, April 4th.

Arbutus Biopharma Stock Performance

The stock's fifty day moving average is $2.92 and its two-hundred day moving average is $2.60. The firm has a market capitalization of $630.32 million, a price-to-earnings ratio of -7.73 and a beta of 1.98.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.10). The business had revenue of $1.53 million during the quarter, compared to analyst estimates of $2.16 million. Arbutus Biopharma had a negative net margin of 572.81% and a negative return on equity of 62.68%. Sell-side analysts anticipate that Arbutus Biopharma Co. will post -0.39 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Walleye Trading LLC acquired a new position in Arbutus Biopharma during the 1st quarter worth $36,000. Tidal Investments LLC bought a new position in shares of Arbutus Biopharma in the 1st quarter worth about $111,000. Kennedy Capital Management LLC lifted its position in shares of Arbutus Biopharma by 12.7% in the 1st quarter. Kennedy Capital Management LLC now owns 436,506 shares of the biopharmaceutical company's stock worth $1,126,000 after buying an additional 49,265 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Arbutus Biopharma by 22.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,388 shares of the biopharmaceutical company's stock worth $94,000 after buying an additional 6,649 shares during the last quarter. Finally, Verus Capital Partners LLC lifted its position in shares of Arbutus Biopharma by 30.5% in the 1st quarter. Verus Capital Partners LLC now owns 41,935 shares of the biopharmaceutical company's stock worth $108,000 after buying an additional 9,800 shares during the last quarter. 43.79% of the stock is owned by institutional investors and hedge funds.

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.