Arbutus Biopharma (NASDAQ:ABUS) Reaches New 1-Year High at $4.04

Arbutus Biopharma Co. (NASDAQ:ABUS) shares reached a new 52-week high on Tuesday . The company traded as high as $4.04 and last traded at $4.01, with a volume of 545507 shares traded. The stock had previously closed at $3.87.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Chardan Capital restated a “buy” rating and issued a $4.00 price target on shares of Arbutus Biopharma in a report on Wednesday, June 5th. StockNews.com raised Arbutus Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. JMP Securities upped their target price on Arbutus Biopharma from $4.00 to $5.00 and gave the company a “market outperform” rating in a research note on Friday, August 2nd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of Arbutus Biopharma in a research note on Thursday, June 6th.

Arbutus Biopharma Trading Up 2.5 %

The stock has a market cap of $771.85 million, a PE ratio of -9.25 and a beta of 1.92. The business has a 50 day moving average of $3.64 and a 200-day moving average of $3.16.

Arbutus Biopharma (NASDAQ:ABUS) last issued its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Arbutus Biopharma had a negative return on equity of 66.68% and a negative net margin of 766.20%. The business had revenue of $1.73 million for the quarter, compared to analysts’ expectations of $1.54 million. During the same period in the prior year, the company earned ($0.10) EPS. On average, equities research analysts anticipate that Arbutus Biopharma Co. will post -0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ABUS. Rubric Capital Management LP purchased a new position in shares of Arbutus Biopharma in the 2nd quarter worth $5,195,000. Susquehanna Fundamental Investments LLC raised its position in shares of Arbutus Biopharma by 102.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 208,152 shares of the biopharmaceutical company’s stock worth $643,000 after buying an additional 105,228 shares during the period. Bank of New York Mellon Corp raised its position in shares of Arbutus Biopharma by 21.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 493,729 shares of the biopharmaceutical company’s stock worth $1,526,000 after buying an additional 86,104 shares during the period. BNP Paribas Financial Markets raised its position in shares of Arbutus Biopharma by 19.7% in the 1st quarter. BNP Paribas Financial Markets now owns 349,435 shares of the biopharmaceutical company’s stock worth $902,000 after buying an additional 57,390 shares during the period. Finally, Cowen AND Company LLC purchased a new position in shares of Arbutus Biopharma in the 4th quarter worth $125,000. Hedge funds and other institutional investors 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.