Arbutus Biopharma Corp. (NASDAQ:ABUS)’s share price shot up 2.4% on Tuesday . The company traded as high as $3.82 and last traded at $3.82, with a volume of 86,042 shares traded. The stock had previously closed at $3.73.

A number of research firms recently weighed in on ABUS. Zacks Investment Research upgraded shares of Arbutus Biopharma Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 24th. William Blair restated an “outperform” rating on shares of Arbutus Biopharma Corp. in a research report on Sunday, August 21st. Leerink Swann lowered shares of Arbutus Biopharma Corp. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 17th. Wedbush restated an “outperform” rating and set a $20.00 price target (up from $13.00) on shares of Arbutus Biopharma Corp. in a research report on Friday, August 5th. Finally, Chardan Capital lowered shares of Arbutus Biopharma Corp. from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $3.25 to $2.75 in a research report on Friday, July 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $8.79.

The firm’s 50-day moving average is $3.82 and its 200-day moving average is $4.06. The stock’s market cap is $210.42 million.

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Arbutus Biopharma Corp. (NASDAQ:ABUS) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.39) by $0.36. Arbutus Biopharma Corp. had a negative net margin of 1,017.01% and a negative return on equity of 8.87%. Equities research analysts predict that Arbutus Biopharma Corp. will post ($3.35) earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. K2 Principal Fund L.P. increased its position in shares of Arbutus Biopharma Corp. by 113.6% in the second quarter. K2 Principal Fund L.P. now owns 63,550 shares of the biopharmaceutical company’s stock worth $221,000 after buying an additional 33,796 shares in the last quarter. I.G. Investment Management LTD. bought a new position in shares of Arbutus Biopharma Corp. during the second quarter worth about $870,000. Suffolk Capital Management LLC increased its position in shares of Arbutus Biopharma Corp. by 7.6% in the second quarter. Suffolk Capital Management LLC now owns 441,915 shares of the biopharmaceutical company’s stock worth $1,538,000 after buying an additional 31,023 shares in the last quarter. AXA increased its position in shares of Arbutus Biopharma Corp. by 1.4% in the second quarter. AXA now owns 792,358 shares of the biopharmaceutical company’s stock worth $2,757,000 after buying an additional 11,062 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Arbutus Biopharma Corp. during the second quarter worth about $2,822,000. Institutional investors and hedge funds own 31.87% of the company’s stock.

Arbutus Biopharma Corp. Company Profile

Arbutus Biopharma Corporation, formerly Tekmira Pharmaceuticals Corporation, is a therapeutic solutions company. The Company is engaged in discovering, developing and commercializing a cure for patients suffering from chronic hepatitis B infection (HBV), a disease of the liver caused by the hepatitis B virus (HBV).

5 Day Chart for NASDAQ:ABUS

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