Arbutus Biopharma (NASDAQ:ABUS) Trading Down 6.4% – What’s Next?

Arbutus Biopharma Corporation (NASDAQ:ABUS) shares traded down 6.4% on Tuesday . The company traded as low as $4.66 and last traded at $4.6350. 527,933 shares changed hands during trading, a decline of 46% from the average session volume of 970,162 shares. The stock had previously closed at $4.95.

Analysts Set New Price Targets

Several research firms have recently issued reports on ABUS. Wall Street Zen downgraded shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Arbutus Biopharma in a report on Wednesday, October 8th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $5.00 target price on shares of Arbutus Biopharma in a report on Friday, November 14th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $5.00.

Arbutus Biopharma Stock Down 2.2%

The firm has a market cap of $873.13 million, a P/E ratio of -19.74 and a beta of 0.66. The business’s 50 day moving average is $4.48 and its two-hundred day moving average is $3.95.

Arbutus Biopharma (NASDAQ:ABUS) last issued its quarterly earnings results on Thursday, November 13th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $0.53 million during the quarter, compared to the consensus estimate of $1.31 million. Arbutus Biopharma had a negative return on equity of 50.26% and a negative net margin of 289.79%. Equities research analysts anticipate that Arbutus Biopharma Corporation will post -0.39 EPS for the current year.

Hedge Funds Weigh In On Arbutus Biopharma

A number of hedge funds have recently added to or reduced their stakes in the stock. Voleon Capital Management LP bought a new position in shares of Arbutus Biopharma in the third quarter valued at approximately $47,000. Oxford Asset Management LLP purchased a new position in Arbutus Biopharma during the 2nd quarter worth $38,000. Brooklyn Investment Group grew its stake in shares of Arbutus Biopharma by 3,485.6% in the 3rd quarter. Brooklyn Investment Group now owns 14,163 shares of the biopharmaceutical company’s stock worth $64,000 after acquiring an additional 13,768 shares in the last quarter. Daiwa Securities Group Inc. grew its position in 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 purchasing an additional 15,449 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Arbutus Biopharma during the 3rd quarter worth approximately $73,000. Institutional investors and hedge funds own 43.79% of the company’s stock.

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.