Arbutus Biopharma (NASDAQ:ABUS) Sees Large Volume Increase – Here’s What Happened

Arbutus Biopharma Co. (NASDAQ:ABUS) shares saw an uptick in trading volume on Tuesday . 1,058,583 shares were traded during mid-day trading, an increase of 54% from the previous session’s volume of 689,275 shares.The stock last traded at $3.45 and had previously closed at $3.27.

Analysts Set New Price Targets

A number of research analysts have issued reports on ABUS shares. Chardan Capital reissued a “buy” rating and set a $5.00 target price (up from $4.50) on shares of Arbutus Biopharma in a research note 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 reaffirmed a “buy” rating and set a $5.00 target price on shares of Arbutus Biopharma in a research note on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.50.

Arbutus Biopharma Stock Up 4.3 %

The stock’s 50 day moving average is $3.53 and its 200 day moving average is $3.71. The firm has a market cap of $646.17 million, a price-to-earnings ratio of -7.93 and a beta of 1.78.

Hedge Funds Weigh In On Arbutus Biopharma

Several large investors have recently made changes to their positions in ABUS. The Manufacturers Life Insurance Company lifted its stake in Arbutus Biopharma by 7.9% during the second quarter. The Manufacturers Life Insurance Company now owns 57,323 shares of the biopharmaceutical company’s stock valued at $177,000 after purchasing an additional 4,191 shares during the last quarter. Creative Planning increased its holdings in shares of Arbutus Biopharma by 13.8% in the third quarter. Creative Planning now owns 49,500 shares of the biopharmaceutical company’s stock valued at $191,000 after buying an additional 5,989 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Arbutus Biopharma by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 89,586 shares of the biopharmaceutical company’s stock valued at $345,000 after acquiring an additional 8,859 shares during the last quarter. XTX Topco Ltd boosted its stake in shares of Arbutus Biopharma by 76.2% during the 3rd quarter. XTX Topco Ltd now owns 30,013 shares of the biopharmaceutical company’s stock worth $116,000 after acquiring an additional 12,975 shares in the last quarter. Finally, Helen Stephens Group LLC acquired a new position in shares of Arbutus Biopharma in the 3rd quarter worth $50,000. Institutional investors own 43.79% of the company’s stock.

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.