Arbutus Biopharma (ABUS) Sees Strong Trading Volume

Arbutus Biopharma (NASDAQ:ABUS) shares saw an uptick in trading volume on Friday . 4,078,700 shares were traded during trading, an increase of 1,818% from the previous session’s volume of 212,628 shares.The stock last traded at $6.80 and had previously closed at $6.38.

Several research firms have weighed in on ABUS. Chardan Capital reaffirmed a “buy” rating and set a $8.00 price target on shares of Arbutus Biopharma in a research report on Monday, May 7th. ValuEngine raised Arbutus Biopharma from a “sell” rating to a “hold” rating in a research report on Thursday, March 15th. Zacks Investment Research raised Arbutus Biopharma from a “sell” rating to a “hold” rating in a research report on Thursday, March 22nd. BidaskClub raised Arbutus Biopharma from a “sell” rating to a “hold” rating in a research report on Tuesday, April 24th. Finally, Wedbush lowered Arbutus Biopharma from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $9.00 to $6.00 in a research report on Monday, March 19th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. Arbutus Biopharma has a consensus rating of “Buy” and a consensus price target of $8.40.

The stock has a market capitalization of $386.18 million, a price-to-earnings ratio of -3.80 and a beta of 1.04. The company has a quick ratio of 16.86, a current ratio of 16.86 and a debt-to-equity ratio of 0.01.

Arbutus Biopharma (NASDAQ:ABUS) last posted its quarterly earnings results on Thursday, May 3rd. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.03. The firm had revenue of $1.40 million for the quarter. Arbutus Biopharma had a negative return on equity of 61.50% and a negative net margin of 705.09%. equities research analysts predict that Arbutus Biopharma will post -1.49 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of ABUS. Victory Capital Management Inc. increased its holdings in shares of Arbutus Biopharma by 16.6% during the 4th quarter. Victory Capital Management Inc. now owns 150,720 shares of the biopharmaceutical company’s stock worth $761,000 after acquiring an additional 21,460 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Arbutus Biopharma by 7,615.3% during the 4th quarter. BlackRock Inc. now owns 751,314 shares of the biopharmaceutical company’s stock worth $3,794,000 after acquiring an additional 741,576 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Arbutus Biopharma during the 4th quarter worth approximately $146,000. Eversept Partners LLC acquired a new position in shares of Arbutus Biopharma during the 4th quarter worth approximately $543,000. Finally, Spark Investment Management LLC increased its holdings in shares of Arbutus Biopharma by 98.3% during the 4th quarter. Spark Investment Management LLC now owns 23,000 shares of the biopharmaceutical company’s stock worth $116,000 after acquiring an additional 11,400 shares during the last quarter. 33.30% of the stock is currently owned by institutional investors and hedge funds.

Arbutus Biopharma Company Profile

Arbutus Biopharma Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of a cure for patients suffering from chronic Hepatitis B virus (HBV) infection in Canada and the United States. It also develops a pipeline of products based on RNA interference therapeutics (RNAi).

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