Arbutus Biopharma (NASDAQ:ABUS) Sees Strong Trading Volume – Still a Buy?

Shares of Arbutus Biopharma Co. (NASDAQ:ABUS) saw strong trading volume on Wednesday . 1,519,395 shares changed hands during trading, an increase of 34% from the previous session’s volume of 1,132,564 shares.The stock last traded at $4.22 and had previously closed at $4.11.

Analysts Set New Price Targets

A number of research firms have weighed in on ABUS. JMP Securities raised their price objective on shares of Arbutus Biopharma from $4.00 to $5.00 and gave the company a “market outperform” rating in a research note on Friday, August 2nd. StockNews.com upgraded Arbutus Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, Jefferies Financial Group increased their price target on Arbutus Biopharma from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, September 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.25.

Arbutus Biopharma Stock Up 2.2 %

The company has a market capitalization of $792.61 million, a PE ratio of -9.64 and a beta of 1.91. The company’s 50 day moving average is $3.95 and its two-hundred day moving average is $3.45.

Arbutus Biopharma (NASDAQ:ABUS) last announced its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Arbutus Biopharma had a negative net margin of 766.20% and a negative return on equity of 66.68%. The firm had revenue of $1.73 million for the quarter, compared to the consensus estimate of $1.54 million. During the same period in the previous year, the company posted ($0.10) earnings per share. Analysts forecast that Arbutus Biopharma Co. will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. lifted its position in shares of Arbutus Biopharma by 66.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 32,233 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 12,833 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Arbutus Biopharma by 19.7% in the first quarter. BNP Paribas Financial Markets now owns 349,435 shares of the biopharmaceutical company’s stock valued at $902,000 after purchasing an additional 57,390 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Arbutus Biopharma in the first quarter worth approximately $266,000. Verus Capital Partners LLC increased its holdings in Arbutus Biopharma by 30.5% during the 1st quarter. Verus Capital Partners LLC now owns 41,935 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 9,800 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Arbutus Biopharma by 22.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,388 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 6,649 shares in the last quarter. 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.