Arbutus Biopharma Corp (NASDAQ:ABUS)’s share price shot up 8.2% during trading on Friday . The company traded as high as $5.28 and last traded at $5.17. 506,308 shares were traded during trading, an increase of 48% from the average session volume of 342,477 shares. The stock had previously closed at $4.78.
A number of research firms have commented on ABUS. B. Riley raised shares of Arbutus Biopharma from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $11.50 to $9.00 in a research report on Tuesday, October 16th. Wedbush raised shares of Arbutus Biopharma from an “underperform” rating to a “neutral” rating and set a $5.00 price objective for the company in a research report on Monday, October 15th. They noted that the move was a valuation call. Chardan Capital reduced their price objective on shares of Arbutus Biopharma from $12.00 to $6.50 and set a “buy” rating for the company in a research report on Friday, October 12th. BidaskClub cut shares of Arbutus Biopharma from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 11th. Finally, ValuEngine cut shares of Arbutus Biopharma from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $7.10.
The stock has a market cap of $234.91 million, a PE ratio of -2.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.67 and a current ratio of 13.67.
Arbutus Biopharma (NASDAQ:ABUS) last announced its earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.09). The business had revenue of $1.20 million during the quarter. Arbutus Biopharma had a negative net margin of 515.00% and a negative return on equity of 75.07%. On average, equities analysts anticipate that Arbutus Biopharma Corp will post -1.6 earnings per share for the current fiscal year.
In other news, insider Michael J. Sofia sold 4,250 shares of the business’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $9.51, for a total value of $40,417.50. Following the completion of the sale, the insider now owns 1,499,153 shares of the company’s stock, valued at $14,256,945.03. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 7.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in ABUS. Rhumbline Advisers bought a new stake in shares of Arbutus Biopharma in the second quarter valued at about $243,000. Algert Global LLC bought a new stake in shares of Arbutus Biopharma in the second quarter valued at about $254,000. Schwab Charles Investment Management Inc. bought a new stake in shares of Arbutus Biopharma in the second quarter valued at about $482,000. PNC Financial Services Group Inc. bought a new stake in shares of Arbutus Biopharma in the second quarter valued at about $493,000. Finally, Citadel Advisors LLC boosted its position in shares of Arbutus Biopharma by 21.3% in the second quarter. Citadel Advisors LLC now owns 78,617 shares of the biopharmaceutical company’s stock valued at $574,000 after acquiring an additional 13,820 shares during the period. 39.98% of the stock is owned by institutional investors.
About Arbutus Biopharma (NASDAQ:ABUS)
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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