Arbutus Biopharma (NASDAQ:ABUS) Shares Down 3%

Shares of Arbutus Biopharma Co. (NASDAQ:ABUS - Get Free Report) fell 3% on Thursday . The company traded as low as $3.52 and last traded at $3.52. 156,292 shares traded hands during trading, a decline of 86% from the average session volume of 1,147,812 shares. The stock had previously closed at $3.63.

Analysts Set New Price Targets

A number of research firms recently weighed in on ABUS. 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. Chardan Capital reaffirmed a "buy" rating and set a $4.00 price target on shares of Arbutus Biopharma in a report on Wednesday. Finally, HC Wainwright reissued a "buy" rating and issued a $5.00 target price on shares of Arbutus Biopharma in a research note on Thursday.

Arbutus Biopharma Trading Down 8.0 %

The company has a 50 day moving average price of $2.97 and a 200 day moving average price of $2.62. The company has a market capitalization of $630.32 million, a price-to-earnings ratio of -7.59 and a beta of 1.98.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hudson Bay Capital Management LP lifted its holdings in Arbutus Biopharma by 45.8% during the third quarter. Hudson Bay Capital Management LP now owns 4,149,904 shares of the biopharmaceutical company's stock worth $8,424,000 after acquiring an additional 1,302,978 shares in the last quarter. Barclays PLC lifted its holdings in Arbutus Biopharma by 175.3% during the third quarter. Barclays PLC now owns 131,845 shares of the biopharmaceutical company's stock worth $268,000 after acquiring an additional 83,950 shares in the last quarter. Premier Path Wealth Partners LLC bought a new position in Arbutus Biopharma during the fourth quarter worth about $56,000. China Universal Asset Management Co. Ltd. lifted its holdings in Arbutus Biopharma by 351.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 19,400 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 15,104 shares in the last quarter. Finally, Clear Harbor Asset Management LLC lifted its holdings in Arbutus Biopharma by 5.7% during the fourth quarter. Clear Harbor Asset Management LLC now owns 139,261 shares of the biopharmaceutical company's stock worth $348,000 after acquiring an additional 7,500 shares in the last quarter. 43.79% of the stock is currently owned by institutional investors.

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.