Arbutus Biopharma (NASDAQ:ABUS) Shares Up 5.7%

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Arbutus Biopharma Co. (NASDAQ:ABUS - Get Free Report) shares traded up 5.7% during trading on Wednesday . The company traded as high as $3.55 and last traded at $3.53. 471,709 shares were traded during mid-day trading, a decline of 59% from the average session volume of 1,141,043 shares. The stock had previously closed at $3.34.

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Analyst Ratings Changes

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

Check Out Our Latest Analysis on ABUS

Arbutus Biopharma Trading Up 8.7 %

The stock's 50 day moving average price is $2.93 and its 200 day moving average price is $2.61. The company has a market capitalization of $685.05 million, a price-to-earnings ratio of -8.25 and a beta of 1.98.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.10) EPS for the quarter, hitting analysts' consensus estimates of ($0.10). Arbutus Biopharma had a negative net margin of 572.81% and a negative return on equity of 62.68%. The company had revenue of $1.53 million during the quarter, compared to the consensus estimate of $2.16 million. On average, research analysts expect that Arbutus Biopharma Co. will post -0.39 earnings per share for the current year.

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Institutional Investors Weigh In On Arbutus Biopharma

Several hedge funds have recently bought and sold shares of the company. Walleye Trading LLC bought a new position in Arbutus Biopharma in the 1st quarter valued at about $36,000. PFG Investments LLC bought a new position in Arbutus Biopharma in the 1st quarter valued at about $50,000. China Universal Asset Management Co. Ltd. raised its holdings in Arbutus Biopharma by 351.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 19,400 shares of the biopharmaceutical company's stock valued at $49,000 after acquiring an additional 15,104 shares during the period. Premier Path Wealth Partners LLC bought a new position in Arbutus Biopharma in the 4th quarter valued at about $56,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in 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 valued at $94,000 after acquiring an additional 6,649 shares during the period. 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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