Arbutus Biopharma (NASDAQ:ABUS) Stock Price Down 8.4% – What’s Next?

Arbutus Biopharma Corporation (NASDAQ:ABUS)’s share price was down 8.4% on Thursday . The company traded as low as $4.21 and last traded at $4.3240. Approximately 2,048,914 shares traded hands during trading, a decline of 6% from the average daily volume of 2,187,585 shares. The stock had previously closed at $4.72.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ABUS. Wall Street Zen downgraded Arbutus Biopharma from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Chardan Capital reissued a “buy” rating and set a $5.00 price target on shares of Arbutus Biopharma in a report on Friday, November 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arbutus Biopharma in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.00.

Arbutus Biopharma Trading Down 7.3%

The firm has a 50-day moving average of $4.37 and a 200 day moving average of $4.40. The stock has a market capitalization of $841.40 million, a price-to-earnings ratio of -19.02 and a beta of 0.69.

Institutional Trading of Arbutus Biopharma

Institutional investors have recently made changes to their positions in the stock. Oxford Asset Management LLP bought a new position in shares of Arbutus Biopharma in the second quarter valued at approximately $38,000. Voleon Capital Management LP bought a new position in Arbutus Biopharma during the 3rd quarter valued at $47,000. Cibc World Markets Corp acquired a new position in shares of Arbutus Biopharma during the 4th quarter valued at $48,000. Daiwa Securities Group Inc. raised its stake in shares of Arbutus Biopharma by 3,911.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 15,844 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 15,449 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in shares of Arbutus Biopharma by 71.5% in the second quarter. Prudential Financial Inc. now owns 18,255 shares of the biopharmaceutical company’s stock valued at $56,000 after buying an additional 7,610 shares during the period. 43.79% of the stock is owned by institutional investors and hedge funds.

About Arbutus Biopharma

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.