Arbutus Biopharma Co. (NASDAQ:ABUS – Get Free Report) rose 5.7% on Wednesday . The stock traded as high as $3.55 and last traded at $3.53. Approximately 471,709 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 1,141,043 shares. The stock had previously closed at $3.34.
Analysts Set New Price Targets
ABUS has been the topic of a number of recent research reports. HC Wainwright dropped their price objective on Arbutus Biopharma from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, March 1st. Chardan Capital reissued a “buy” rating and issued a $4.00 price target on shares of Arbutus Biopharma in a report on Friday, May 3rd. Finally, JMP Securities restated a “market outperform” rating and issued a $4.00 price objective on shares of Arbutus Biopharma in a research report on Thursday, April 4th.
Get Our Latest Stock Report on ABUS
Arbutus Biopharma Price Performance
Arbutus Biopharma (NASDAQ:ABUS – Get Free Report) last announced its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.10). The business had revenue of $1.53 million for the quarter, compared to analyst estimates of $2.16 million. Arbutus Biopharma had a negative return on equity of 62.68% and a negative net margin of 572.81%. On average, research analysts expect that Arbutus Biopharma Co. will post -0.39 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Arbutus Biopharma
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC raised its position in Arbutus Biopharma by 175.3% during the third quarter. Barclays PLC now owns 131,845 shares of the biopharmaceutical company’s stock valued at $268,000 after purchasing an additional 83,950 shares in the last quarter. Hudson Bay Capital Management LP raised its position in Arbutus Biopharma by 45.8% in the 3rd quarter. Hudson Bay Capital Management LP now owns 4,149,904 shares of the biopharmaceutical company’s stock worth $8,424,000 after purchasing an additional 1,302,978 shares during the period. SG Americas Securities LLC boosted its position in Arbutus Biopharma by 15.3% during the fourth quarter. SG Americas Securities LLC now owns 46,172 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 6,117 shares during the period. Premier Path Wealth Partners LLC purchased a new stake in Arbutus Biopharma during the fourth quarter valued at about $56,000. Finally, Clear Harbor Asset Management LLC grew its stake in shares of 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 valued at $348,000 after buying an additional 7,500 shares during the last quarter. 43.79% of the stock is owned by hedge funds and other institutional investors.
Arbutus Biopharma Company Profile
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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