Arbutus Biopharma (NASDAQ:ABUS) Shares Gap Down – Here’s What Happened

Shares of Arbutus Biopharma Co. (NASDAQ:ABUS) gapped down before the market opened on Monday . The stock had previously closed at $3.56, but opened at $3.45. Arbutus Biopharma shares last traded at $3.48, with a volume of 15,697 shares trading hands.

Analyst Ratings Changes

ABUS has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their price objective on shares of Arbutus Biopharma from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Chardan Capital restated a “buy” rating and set a $5.00 price target (up from $4.50) on shares of Arbutus Biopharma in a report on Wednesday, November 20th. JMP Securities increased their price objective on Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, HC Wainwright reissued a “buy” rating and set a $5.00 price objective on shares of Arbutus Biopharma in a research report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.50.

Arbutus Biopharma Price Performance

The firm has a market capitalization of $655.64 million, a price-to-earnings ratio of -8.05 and a beta of 1.84. The business has a 50 day moving average of $3.74 and a 200 day moving average of $3.70.

Institutional Trading of Arbutus Biopharma

A number of large investors have recently bought and sold shares of the stock. Rubric Capital Management LP acquired a new position in Arbutus Biopharma during the 2nd quarter worth about $5,195,000. State Street Corp lifted its position in shares of Arbutus Biopharma by 50.2% during the third quarter. State Street Corp now owns 4,407,133 shares of the biopharmaceutical company’s stock worth $16,967,000 after purchasing an additional 1,472,652 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Arbutus Biopharma by 218.5% during 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 purchasing an additional 831,663 shares during the last quarter. Barclays PLC increased its holdings in shares of 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 purchasing an additional 223,995 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Arbutus Biopharma in the 3rd quarter worth approximately $754,000. 43.79% of the stock is currently owned by institutional investors.

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.