Arbutus Biopharma (NASDAQ:ABUS) Sets New 12-Month High – What’s Next?

Arbutus Biopharma Corporation (NASDAQ:ABUS) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $5.17 and last traded at $5.1650, with a volume of 1098825 shares changing hands. The stock had previously closed at $4.97.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ABUS shares. Wall Street Zen upgraded shares of Arbutus Biopharma from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arbutus Biopharma in a research note on Monday, April 20th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Arbutus Biopharma has a consensus rating of “Hold” and an average target price of $5.00.

Arbutus Biopharma Trading Up 5.3%

The company has a market cap of $1.03 billion, a price-to-earnings ratio of 6.31 and a beta of 0.62. The stock’s fifty day simple moving average is $4.42 and its 200 day simple moving average is $4.42.

Arbutus Biopharma (NASDAQ:ABUS) last issued its earnings results on Tuesday, March 31st. The biopharmaceutical company reported $0.87 earnings per share for the quarter. Arbutus Biopharma had a return on equity of 129.32% and a net margin of 83.95%.The business had revenue of $179.13 million for the quarter. On average, analysts predict that Arbutus Biopharma Corporation will post -0.16 EPS for the current year.

Hedge Funds Weigh In On Arbutus Biopharma

A number of institutional investors have recently bought and sold shares of the company. Two Seas Capital LP increased its holdings in shares of Arbutus Biopharma by 14.5% during the 4th quarter. Two Seas Capital LP now owns 12,589,158 shares of the biopharmaceutical company’s stock worth $60,554,000 after buying an additional 1,597,897 shares during the last quarter. Voleon Capital Management LP acquired a new position in Arbutus Biopharma in the third quarter valued at approximately $47,000. Oxford Asset Management LLP purchased a new position in Arbutus Biopharma in the second quarter worth approximately $38,000. Principal Financial Group Inc. purchased a new position in Arbutus Biopharma in the first quarter worth approximately $49,000. Finally, Avidity Partners Management LP acquired a new stake in Arbutus Biopharma during the first quarter worth $562,000. 43.79% of the stock is owned by hedge funds and other institutional investors.

Arbutus Biopharma Company Profile

Arbutus Biopharma Corporation is a clinical-stage biopharmaceutical company dedicated to discovering, developing and advancing a cure for chronic hepatitis B virus (HBV) infection. The company’s pipeline features both direct-acting antivirals and host-targeting therapies designed to reduce viral load and restore immune function. Lead programs include an RNA interference (RNAi) candidate aimed at silencing viral gene expression and next-generation capsid assembly modulators that seek to inhibit viral replication at its core.

In addition to its antiviral portfolio, Arbutus leverages proprietary lipid nanoparticle (LNP) delivery technology to optimize the distribution and cellular uptake of nucleic acid therapeutics.