Arbutus Biopharma (NASDAQ:ABUS) Trading Up 4.2%

Arbutus Biopharma Co. (NASDAQ:ABUSGet Free Report) was up 4.2% during mid-day trading on Monday . The stock traded as high as $3.25 and last traded at $3.25. Approximately 78,578 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 1,140,332 shares. The stock had previously closed at $3.12.

Analysts Set New Price Targets

Several analysts recently issued reports on ABUS shares. JMP Securities reissued a “market outperform” rating and issued a $4.00 price target on shares of Arbutus Biopharma in a report on Thursday, April 4th. Chardan Capital restated a “buy” rating and issued a $4.00 target price on shares of Arbutus Biopharma in a research report on Wednesday, June 5th. Finally, HC Wainwright restated a “buy” rating and issued a $5.00 target price on shares of Arbutus Biopharma in a research report on Thursday, June 6th.

Check Out Our Latest Stock Analysis on ABUS

Arbutus Biopharma Trading Up 4.3 %

The company has a market capitalization of $641.65 million, a price-to-earnings ratio of -7.73 and a beta of 1.96. The firm has a 50-day moving average price of $3.11 and a 200-day moving average price of $2.80.

Arbutus Biopharma (NASDAQ:ABUSGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, meeting 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 company had revenue of $1.53 million for the quarter, compared to analysts’ expectations of $2.16 million. Equities research analysts predict that Arbutus Biopharma Co. will post -0.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Arbutus Biopharma

Several hedge funds have recently modified their holdings of the company. Walleye Trading LLC acquired a new position in shares of Arbutus Biopharma in the 1st quarter worth $36,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of 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 worth $49,000 after acquiring an additional 15,104 shares during the last quarter. PFG Investments LLC acquired a new position in shares of Arbutus Biopharma in the 1st quarter worth $50,000. Premier Path Wealth Partners LLC acquired a new position in shares of Arbutus Biopharma in the 4th quarter worth $56,000. Finally, Price T Rowe Associates Inc. MD grew its holdings 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 acquiring an additional 6,649 shares during the last quarter. 43.79% of the stock is currently owned by institutional investors and hedge funds.

Arbutus Biopharma Company Profile

(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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