Arbutus Biopharma Co. (NASDAQ:ABUS – Get Free Report) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 31,568 call options on the stock. This represents an increase of 2,744% compared to the typical volume of 1,110 call options.
Analysts Set New Price Targets
Several research firms have issued reports on ABUS. Chardan Capital reiterated a “buy” rating and set a $4.00 price objective on shares of Arbutus Biopharma in a research note on Friday, March 1st. HC Wainwright lowered their target price on Arbutus Biopharma from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, March 1st.
Read Our Latest Research Report on Arbutus Biopharma
Arbutus Biopharma Stock Up 2.2 %
Arbutus Biopharma (NASDAQ:ABUS – Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.12) EPS for the quarter, hitting analysts’ consensus estimates of ($0.12). The firm had revenue of $2.15 million during the quarter, compared to analyst estimates of $4.74 million. Arbutus Biopharma had a negative return on equity of 54.92% and a negative net margin of 401.57%. During the same period last year, the company earned ($0.14) earnings per share. On average, equities analysts predict that Arbutus Biopharma will post -0.4 earnings per share for the current fiscal year.
Institutional Trading of Arbutus Biopharma
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in Arbutus Biopharma by 175.3% during the third quarter. Barclays PLC now owns 131,845 shares of the biopharmaceutical company’s stock worth $268,000 after buying an additional 83,950 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in Arbutus Biopharma during the second quarter worth about $608,000. SG Americas Securities LLC bought a new position in shares of Arbutus Biopharma during the 3rd quarter valued at about $81,000. Bank of Montreal Can bought a new position in shares of Arbutus Biopharma during the 2nd quarter valued at about $1,066,000. Finally, Kades & Cheifetz LLC bought a new position in shares of Arbutus Biopharma during the 3rd quarter valued at about $41,000. 39.52% of the stock is currently owned by institutional investors and hedge funds.
Arbutus Biopharma Company Profile
Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection, SARS-CoV-2, and other coronaviruses in the United States. Its HBV product pipeline consists of AB-729, a proprietary subcutaneously-delivered RNAi therapeutic product candidate that suppresses all HBV antigens, including HBsAg expression.
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