Arbutus Biopharma (NASDAQ:ABUS) Trading 6.3% Higher – Time to Buy?

Arbutus Biopharma Co. (NASDAQ:ABUS)’s stock price traded up 6.3% during trading on Thursday . The company traded as high as $3.44 and last traded at $3.39. 119,890 shares changed hands during trading, a decline of 88% from the average session volume of 1,021,157 shares. The stock had previously closed at $3.19.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com downgraded shares of Arbutus Biopharma from a “hold” rating to a “sell” rating in a report on Thursday. Chardan Capital reaffirmed a “buy” rating and set a $5.00 price objective (up from $4.50) on shares of Arbutus Biopharma in a report on Wednesday, November 20th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $5.00 price objective on shares of Arbutus Biopharma in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

Arbutus Biopharma Stock Performance

The company has a market cap of $625.32 million, a price-to-earnings ratio of -7.67 and a beta of 1.93. The firm’s 50-day moving average price is $3.33 and its 200 day moving average price is $3.62.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in Arbutus Biopharma in the fourth quarter valued at approximately $236,000. Charles Schwab Investment Management Inc. lifted its stake in Arbutus Biopharma by 218.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,212,246 shares of the biopharmaceutical company’s stock valued at $4,667,000 after buying an additional 831,663 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Arbutus Biopharma in the third quarter valued at approximately $754,000. Barclays PLC lifted its stake in Arbutus Biopharma by 466.3% in the third quarter. Barclays PLC now owns 272,029 shares of the biopharmaceutical company’s stock valued at $1,047,000 after buying an additional 223,995 shares in the last quarter. Finally, State Street Corp lifted its stake in Arbutus Biopharma by 50.2% in the third quarter. State Street Corp now owns 4,407,133 shares of the biopharmaceutical company’s stock valued at $16,967,000 after buying an additional 1,472,652 shares in the last quarter. Institutional investors and hedge funds own 43.79% of the company’s stock.

About Arbutus Biopharma

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.